December 31 is approaching fast. Which means you have to act now if you want to dramatically lower your tax bill. That’s right… If you act by year’s end, you can claim some hefty deductions on business and personals cars, SUVs, trucks, and vans. We won’t steer you wrong. You’ll get all the important details when you read my new article titled Tax Tips: 2015 Last-Minute … [Read more...]
Hoping to Take a Bad Debt Deduction? Don’t Count on It
Nothing’s more upsetting than getting shafted by a person or business that can’t or won’t pay its debts. To add insult to injury, it’s not all that easy to write off the bad debt. To come out a winner, you have to know the IRS’s complex rules. That’s where we come in. We’ll show you how to navigate the system and claim bad-debt deductions that will stand up to an … [Read more...]
Triple Tax Advantages: Reimburse Your Employee-Spouse for Health Insurance
It’s a fact. If you’re a Schedule C business-owner, you and your spouse must get health insurance for yourselves (and other dependents) or face a hefty penalty. The good news is that a properly-established proprietorship reimbursement arrangement can provide three big tax advantages for you and your spouse. Want to learn how to become a trifecta tax winner? Read my … [Read more...]
Owe back taxes? Make the IRS an offer they can’t refuse
Can’t afford to pay your federal income tax bill? Don’t panic. On second thought, do panic. Because you’re up against the world’s most resolute and effective collection agency. You see, when Uncle Sam wants his money, he can garnish wages, file a federal tax lien, or simply clean out your bank account. The good news is, there is hope. That’s because the IRS offers … [Read more...]
Facing IRS Penalties? Avoid them with IRS Mercy; Here’s How
If you take your eye off the ball and file your tax returns late, or fail to pay your taxes on time, you could face huge penalties. However, if you know how to handle things right, the cold-hearted IRS will show you mercy and forgive your sins and trespasses. How do you get Uncle Sam to let you off the hook and let those penalties slide? You’ll find out when you read my … [Read more...]