Did you know that if you follow IRS rules, you can claim: A tax-deductible office downtown A tax-deductible office in your own home Plus a tax-deductible office in your vacation home! That’s right. The law allows you to deduct multiple offices if you meet certain requirements. What are they? You’ll find out when you read my new, information-packed article titled Tax … [Read more...]
How to get a fat tax deduction for building repairs
Do you own rental property or your business’s building? If you do, you need to understand the IRS’s new regulations that can have a big impact on your tax bill. You see, these regulations define what’s a tax-deductible “repair” to a building, and what’s an “improvement” that you must capitalize and depreciate. We’ll explain why repair deductions are best and how the new … [Read more...]
16 ways to boost business vehicle deductions
Are you claiming lower business vehicle deductions than you’re entitled to? The answer may be a definite “Yes!” In fact, lots of taxpayers are paying more than they should. Which is why, in my must-read article, I’ll provide you with sixteen perfectly legal ways to save money on your tax bill. If you are looking for proven ways to increase your business car, SUV, truck, and … [Read more...]
Section 105 deductions for owners of multiple businesses
Do you and/or your spouse own more than one business? If you do, you have to know how to apply the Section 105 medical reimbursement plan discrimination rules. First and foremost, you have to look at all the businesses you own as if they were one business. And that’s just for starters. It’s easy to find out more. All you have to do is read my new article titled Tax … [Read more...]
How an “innocent spouse” can avoid taxes
When a husband or wife cheats on taxes, guess who is liable for the unpaid taxes and penalties? The answer is that BOTH spouses are legally responsible. However, there is a ray of hope for the innocent party. Thanks to new guidance given by the IRS, it’s now easier for the non-cheating spouse to avoid financial responsibility. I hope your spouse is honest, but if there ever … [Read more...]