To get my complete, FREE articlewith all the details… It’s a fact every business owner and independent contractor should know… Many state and federal agencies may have you in their cross hairs. They’re going after businesses that hire “independent contractors” rather than “employees.” Why? Because, unlike independent contractors, W-2 employees prepay their taxes. … [Read more...]
Two. Four. Six. Eight. When can we depreciate?
To get my complete, FREE articlewith all the details… What’s more fun? Lying on a beach with a chilled Margarita in your hand or Sitting in an office, figuring out the best way to depreciate business assets? I must confess, that as the publisher of the Tax Reduction Letter, evaluating deduction strategies wins hands down. (Okay. So I’m lying—maybe.) The … [Read more...]
Principal Residence Gain-Exclusion Break (Part 3 of 3)
To get my complete, FREE articlewith all the details… NOTE: This issue of the Tax Reduction Letter is a“refresher” on an important topic. It’s the last ofa three-part series and I suggest you review parts 1 and 2to get complete information. Are you about to sell your home, or thinking about putting it on the market? Then I’ve got good news for you… You … [Read more...]
How Roth IRAs Are Taxed
To get my complete, FREE articlewith all the details… Do you have money invested in a Roth IRA (or several)? That’s great… but be careful! Don’t believe that you can withdraw money any time you want from a Roth IRA without serious tax consequences. Here’s the story. “Qualified” withdrawals versus“Non-qualified” withdrawals. Qualified Withdrawals: Yes. Any … [Read more...]
Both the IRS and CPA Are Wrong on a Rental Property Audit
To get my complete, FREE articlewith all the details… This is the story of a conflict between an IRS agent and a CPA. What were they arguing about? They were arm wrestling over a specific point of law… and guess what? They both were wrong! So what was the issue they were disputing? Before I tell you, here arethree key facts you need to know: Fact #1: In … [Read more...]