If you’re married, a Section 105 medical reimbursement plan can help keep money in your pocket, not Uncle Sam’s. But you don’t have to be married to get a nice tax break from the IRS. The fact is, unmarried and same-sex couples can also benefit from the proprietorship’s or one-owner C corporation’s health reimbursement plan. Want to find out more? Easy. Just read my new … [Read more...]
How your husband & wife business can save big on taxes
If you’re running your business, along with a spouse, my new article is for you. You see, with a some smart tax planning, you can increase your after-tax profits and keep them where they belong. In your pocket or purse. In this article (Part 1 of 2), we provide valuable information if you’re operating your business as a proprietorship and are the only person who manages and … [Read more...]
Protect yourself with digital tax receipts
Let’s face it. The IRS is paid to be suspicious. And who can really blame them? After all, it’s their job to make sure that the meals, trips, etc. that you “write off” as business expenses are legitimate. That’s why it’s so important to keep complete back-up documentation that will prove to the IRS that all your deductions are on the up-and-up. We’ll explain how you can … [Read more...]
Watch out! Your vehicle “lease” may not be a lease
Sometime it looks like a duck, swims like a duck, and quacks like a duck. But it turns out, upon closer examination, that it isn’t really a duck! That’s the story with vehicle leases. You see, there are a lot of tax rules on the books that make what looks like a lease, turn out to be a purchase. And what looks like a conditional sales agreement can turn out to be a … [Read more...]
How to turn your timeshare into a hefty deduction
Do you have a timeshare? Do you use it for business only? If you’re answering “Yes,” I’ve got some good news for you… You qualify for maximum tax benefits! That’s right. Because you’re using your timeshare for “business lodging” only, your timeshare escapes the awful restrictions imposed by the “vacation-home” rules. Personal use? If you use your timeshare for both … [Read more...]