New guidance from the IRS on the new health care law is a major downer. Why? Because it says that the owner of a business may not claim the 35 percent tax credit on the health insurance premiums paid to cover his or her spouse. What does this mean to you? You’ll find out when you read my important new article called Tax Tips: IRS Says No Tax Credit on Health Insurance Premiums … [Read more...]
Don’t let the IRS call your business a “hobby”
Are you running a business that’s losing money? Careful! The IRS might claim that your business isn’t a business at all but a “hobby.” Which means you won’t be able to deduct your losses! My name is Murray Bradford, CPA and the Publisher of the Tax Reduction Letter. I’m writing today to urge you to read my brand new article that may save you a ton of money! CLICK HERE to … [Read more...]
How to make loans the right way
If you make a loan and it goes bad, the IRS may step in and decide whether your loan was “real” or “fake.” The distinction is an important one. You see, real uncollectible loans give you tax-favored, bad-debt deductions. Uncollectible fake loans are deemed undesirable capital contributions and nondeductible gifts. If you want to audit-proof all your business and personal … [Read more...]
Landlord’s snowblower deduction
A landlord just purchased an expensive snowblower to clear the walk-ways of his rental properties. Can he “Section 179 expense” his new snowblower, or is he out of luck? The answer to this question is a bit complicated. Which is why you should read my fact-filled new article titled Tax Tips for Landlord’s Snowblower Deduction. Three ways our fact-filled article can help … [Read more...]
Tax-free lunches for employees
Here are two important facts you may not know: FACT #1: Under the right circumstances, you can provide tax-free lunches to your employees. A nice fringe benefit to be sure! FACT #2: As the business owner, you can also qualify for tax free lunches if you know how to play the game. You’ll learn how, when you read my new article titled Tax Tips: Tax-Free Lunches for … [Read more...]