Sure. Disability insurance makes a lot of sense. If you’re ever laid up and unable to work, it’s nice to have a dependable source of income. Want to learn when the IRS will let you or your corporation deduct disability premiums and collect disability premiums tax free? Easy. You’ll get all the money saving information you need when you read my new article titled Tax Tips … [Read more...]
Sell Your Home to Your S Corporation and Then Make It Your Rental Property
Are you thinking of moving to a new home? Then I have good news for you … You see, your current home might make a great rental property which could create tax-free income for you plus you could form a new S corporation that would give you a step-up in the depreciable basis for the rental house. Want to find out more? Easy. Read my new article titled Tax Tips: Sell Home to S … [Read more...]
Tax tips for owners of vacant lots or unproductive land
Do you own a vacant lot or some unproductive land that you plan to sell for a profit? Sounds good … but when it comes to your taxes you’ll have to make some important decisions. Like exactly what you can write off as itemized deductions or capitalize by making a formal “election.” But don’t be put off by all this complexity. We’ll make everything crystal clear when you read … [Read more...]
Turn a two-person “seminar” into a deduction
Here’s a ruling of the Tax Court you should be aware of … In the Jones case, the Tax Court decided that one-on-one training constitutes a “seminar” for tax purposes. This precedent-making finding opens the door to some exciting tax-free travel opportunities. Want to find out more and then book a flight to Florida or St. Thomas? Read my new article titled Tax … [Read more...]
2016 Tax Guide to Foreclosure on a Rental Property
Do you risk losing a rental property to foreclosure? If so, you have our sympathy … and something a lot more valuable. Our proven ideas for limiting the negative tax consequences you face. So don’t despair. Do something now to save yourself a lot of money. Read my new article titled Tax Tips: 2016 Tax Guide to Foreclosure on a Rental Property. Three ways our fact-filled … [Read more...]