Want to save on your tax bill when you buy a rental property? Then pay close attention to the closing statement. If you’re smart, you’ll go over the statement’s line items and assign each to one of three categories… Business Loan acquisition Operations Then you’ll be in a position to consider the best tax strategy for each category. Want to learn how to use … [Read more...]
Avoid tax traps when you donate clothing and household items to charity!
Got a garage full of junk? Got closets filled with clothes you’ll never wear? Here’s your chance to do some good and do well. You see, you can pay less tax this year by donating clothing and household items to charities that can really use it. And when you know how to give the right way, you can claim some nice non-cash deductions that will save you money. So… if you … [Read more...]
How to avoid a $15,000 penalty!
Have you got a solo 401(k) plan with more than $250,000 in it? If you do, here’s a question you need to answer now: Did you, your tax preparer, or plan administrator file a 5500-EZ? If you’re not certain, you better check this out immediately because a failure to file could cost you a lot of money in fines. Want to find out if you’re at risk and what to do if you are? … [Read more...]
The best way to sell your business!
Thinking of selling your business? Well, before you do, you need to consider the kind of sale it’s going to be. Will it be an asset sale or a stock sale? Want to pay minimum taxes? Reduce post-sale liabilities? Get paid promptly in full? Of course you do! Which is why making the right asset sale/stock sale decision is so vitally important. You’ll find all the … [Read more...]
How to slash college costs with tax credits
The good news… Uncle Sam offers eleven possible education tax benefits that can save you a lot of money. The bad news… With all those choices it can be hard to know which tax benefit makes the most sense for you. That’s why my new article makes “must” reading. It simplifies things by explaining how you can qualify for one of just two outstanding tax credits. The … [Read more...]