The new health care law changes the requirements for deducting vitamins in your Section 105 medical reimbursement plan. Want to download the most current sample plan as a Word document? It’s easy. You’ll find the link in our latest article titled Tax Tips: New Health Care Law Requires Strategy Change for Section 105 Vitamin Deduction. Three ways our fact-filled article can … [Read more...]
Get better deductions for business/rental building repairs
Did you know that tax law penalizes depreciation deductions, but actually rewards repair deductions. The impact of these facts on your net worth can be huge! If you want to learn how to dramatically increase your net worth by repairing your business and rental buildings, I urge you to read my new article titled Tax Tips: Better Tax Deductions for Repairs to Business and Rental … [Read more...]
How to protect your Social Security benefits
You might think that collecting your Social Security benefits is a no-brainer. But you couldn’t be more mistaken. The truth is, you have to carefully plan your benefit collections or lose a huge chunk of money in taxes. Want to learn how to safe-guard your Social Security benefits from taxes and recapture? Read this important new article called Tax Tips to Save Your Social … [Read more...]
How repairs can put extra cash in your pocket
Thinking about fixing up your business and rental properties? Hang on a second. Before you get the workmen on the job, you should be aware of a very important fact: FACT: The repair deduction you’re entitled to can substantially outperform the capitalized improvement. For example, the fix-up you can label as a repair could be 271 percent more … [Read more...]
What’s Best? IRS Mileage Rates or Actual Expenses?
The new tax law has a lot to say about deducting the cost or vehicles. In some cases, you can deduct the full cost in the year you place the vehicle in service! In other cases, the luxury auto limits might stretch your depreciation deductions over 30 or more years! The bottom line? You really need to check out our brand new article titled Tax Tip: With the New Tax Law, … [Read more...]