To get my complete, FREE articlewith all the details… Do you own or lease non-residential (think commercial) real property?Do you use the property for your business, or rent non-residential real property to others? If you do, the interior improvements you make to that property may be eligible for a tremendous tax break. A truly tremendous tax break! Get the full … [Read more...]
Three answers to ‘Paying for College’ questions
To get my complete, FREE articlewith all the details… In a recent article, I explained how, by paying your college student to do a job for your business, you could save a lot of money. For example, let’s say you paid your youngster $23,255 for a one-time job; one that wasn’t subject to self-employment taxes. Using this strategy, you could deduct the $23,255 and your … [Read more...]
How To Use a Reverse Mortgage as a Tax Planning Tool
To get my complete, FREE articlewith all the details… If you’re a senior, it’s possible you may need a sizable chunk of cash to meet expenses or maintain your lifestyle. That’s where a reverse mortgage can come in. A reverse mortgage is a kind of loan that lets homeowners, ages 62 and older, borrow part of their home equity as tax-free income. (In the full article, … [Read more...]
Answers to Questions about Selling Your Home to Your S Corporation
To get my complete, FREE articlewith all the details… This powerful S corporation strategy makes sense when: You want to convert your home to a rental property and realize the tax benefits of the exclusions, orYou need more time to sell your home to realize the $250,000 exclusion ($500,000 if filing a joint return) This article answers two questions: We’re married … [Read more...]
Cash In on the Home Internet Deduction
To get my complete, FREE articlewith all the details… Do you do some work at home? Then I bet you use your home internet connection. I also bet that you may not know the IRS rules concerning the deductibility of your monthly internet expenses. That’s why I wrote this article in the new issue of The Tax Reduction Letter. I want you to learn how to deduct all the … [Read more...]