If you’re paying a nanny at least $1,900 this year, you have to pay the nanny tax. But don’t worry. If you know how to play the game, you can offset most (if not all) of the tax expense. How? By taking advantage of some nice tax breaks. In fact, you can come out ahead as you’ll learn when you read my new article titled Tax Tips: Pay the Nanny Tax and Make Money Doing … [Read more...]
What rental-property owners should know about seller financing?
Thinking about selling your rental property? Then consider financing the deal yourself. (Real-estate pros call this arrangement a “seller take-back.”) If you’re worried about a buyer not paying up, you should know that a default can actually be profitable for you. Here’s some good advice… read my new article Tax Tips: Cash In When the Buyer Defaults on Your Seller … [Read more...]
How seller financing can make you a fortune!
If you’re considering selling a rental property or your home, your first instinct may be to require an all-cash offer. But this may not be the best way to go. You see, if you finance the deal yourself, you could come out a whole lot better. My advice? Keep an open mind and read my new article titled Tax Tips: Use Seller Financing to Create Wealth. Three ways our … [Read more...]
Turn your IRA into a Roth IRA and save!
If you’ve got a traditional IRA, rolling it over into a Roth IRA can make a lot of sense. That’s because you can grow your earnings completely tax free. What’s that? You’re worried about getting slammed with a huge tax bill when you make the switch? Relax. We’ve got three surefire strategies you can use to slash your tax bill and, in some cases, eliminate taxes … [Read more...]
Create tax-free income for family and friends
Do you travel on business? If you do, you have a choice. You can stay at a nice hotel and deduct the cost. or… You can stay with family or friends and pay them a “rental fee” (or “lodging fee”) for the privilege. You can then deduct that cost — and the money you pay them is theirs tax free! You’ll learn all about this win/win strategy when you read my new … [Read more...]