A little history… For 2014 and 2015, the IRS let S corporations escape the $100-a-day penalties on select corporate payments of health insurance (for owners with a more than two percent ownership interest). But what about 2016? I’ll tell you exactly what you need to do with your S-corporation to make sure you keep your health insurance deductions and avoid penalties for … [Read more...]
How to win when you repossess a seller-financed rental
If you ever sell a home and finance the transaction for the buyer, you could certainly come out in great shape. But what happens if the buyer stiffs you and defaults? My advice? Don’t panic! If you know the law, (and we do!) you can reap a substantial windfall of tax-free cash! You’ll find out how when you read my new article titled Tax Tips: Tax Trick When … [Read more...]
How to avoid three deadly depreciation traps!
In December, lawmakers retroactively enacted 50% bonus depreciation for 2015. If you can benefit from this largesse, great. But if you don’t want that extra 50% bonus on some or all of your assets, my new article can help you out. You see, it’s devoted to showing you how avoid three traps that the IRS has set for you. Want to walk through the IRS’s minefield … [Read more...]
Have a Small Business? Own Real Property? Discover Repair Deductions
Do you own real property? If you do, the IRS has some good news for you… If your business qualifies as a “small business,” Uncle Sam may have a nice gift for you in the form of hassle-free, income-generating expensing. Want to learn how to sail happily into Uncle Sam’s safe harbor? Read my new article titled Tax Tips: Have a Small Business? Own Real Property? Discover … [Read more...]
Loophole Closing: Act Immediately to Claim $50,000 Extra from Social Security
Want to take advantage of a huge Social Security benefits windfall? I’m talking about an extra $50,000 you can put in your pocket if you know how to take advantage of a powerful “spousal” strategy. But hurry! A new law will put an end to this totally legal strategy very soon. You’ll get all the details when you read my new article titled Tax Tips: Loophole Closing: Act … [Read more...]