“Defeat the $10,000 SALT CapWith the PTE Tax (Part 2)” To get my complete articlewith all the details... The IRS put a lid on it. Specifically, a $10,000 lid on State and Local Taxes (SALT) deductions. The SALT can kill lots of deductions costing you real money. But hang on a second. Don’t throw in the towel! You see, 29 states have … [Read more...]
How to Claim the ERC When You Own Multiple Entities
“How to Claim the ERC When You Own Multiple Entities” To get my complete articlewith all the details... Have you claimed the valuable employee retention credit (ERC)? If you haven’t, you can amend your 2020 and 2022 payroll tax returns and claim every pennyyou’re entitled to. In fact, you may be able to claimup to $26,000 per employee! That’s right. I’m … [Read more...]
Maximize Profits and Defer Taxes with an Installment Sale
“Maximize Profits and Defer TaxesWith an Installment Sale” To get my complete articlewith all the details... What exactly is an installment sale? An installment sale is a sale of eligible property where you receive at least one payment after the close of the taxable year in which the sales occur. [There is much more to say about this, and I’ll give you allthe … [Read more...]
Spousal IRAs: an information alert
_________________________________ Quick Definition:“Spousal IRA” A spousal IRA is an IRA set up to receivecontributions by a non-working spouse. _________________________________ “Spousal IRAs: an information alert” To get my complete articlewith all the details... Here’s important information you should know if you want to increase your retirement savings … [Read more...]
How to Switch from the Mileage-Rate to the Actual-Expense Deduction Method
“How to Switch from the Mileage-Rateto the Actual-Expense Method” To get my complete articlewith all the details... If you’re using the IRS mileage-rate method to deduct your business vehicle usage, consider changing lanes. You see, switching to the actual-expense method may save you a lot of money. I wouldn’t steer you wrong, so consider this... It’s very … [Read more...]