To get my complete, FREE articlewith all the details… Leave it to the IRS to find a new way to hurt S and C corporations. The IRS wants to cause you pain. Here’s how… The new IRS Notice 2021-49 disallows the valuable employees tax credit (ERC) to more-than-50% owners… owners who have certain living relatives. That’s right. Your corporation can’t qualify for the ERC … [Read more...]
Vaccinated? Claim Tax Credits for You and Your Employees
To get my complete, FREE articlewith all the details… As you know, because of the terrible COVID-19 crisis, the federal government wants every eligible person to get vaccinated. And since Uncle Sam knows that a little sugar makes the medicine go down, he’s providing you and your employees with a sweet incentive What employers need to know now. If you give your … [Read more...]
Are you a property fixer-up seller or a dealer? The IRS cares!
To get my complete, FREE articlewith all the details… Consider this scenario… • You buy a property• You fix up the property• You sell the property Sounds pretty straightforward doesn’t it? Well, believe me, it’s not! You see, depending on the facts and circumstances relating to your sale, the IRS will determine your tax status. Why does this matter? Because … [Read more...]
Principal-Residence Gain-Exclusion Break
To get my complete, FREE articlewith all the details… A quick introduction to a very important subject… This issue of the Tax Reduction Letter is Part 2 of my three-part refresher course on how to get the maximum federal income-tax savings from the home-sale gain-exclusion tax break. The gain exclusion at a glance. With residential real-estate markets … [Read more...]
How 1099s Caused the Dentist Pain
To get my complete, FREE articlewith all the details… Seven R. Olmos DDS made a terrible mistake. One that I hope you never make. He failed to file a tax return. How did Dr. Olmos make such an obvious error? Well, everybody knows that failing to file a tax return is like waving a red flag in front of a bull. So how did Dr. Olmos, a sophisticated taxpayer, mess … [Read more...]