IRS Secret Gift to Business Owners
Stop Overpaying Your Business Taxes by Hundreds of Thousands of Dollars per year! Business owners do not realize that buried somewhere in their tax return is the most powerful tool to increase their business cash flow. That tool is called a depreciation...Why You Should Love Your Stinkers
Why You Should Love Your Stinkers We have had quite a few emails and calls about the 9 Ways to Reduce Your Taxes attachment in the November newsletter. Most of the questions were about the “wash sale” rule typically used in selling stocks so let’s spend some more time...Deadlines that people forget that cost them!
The Oct 15th extended personal tax return deadline is looming, so if you haven’t filed yet you need to cancel this weekend’s plans and get to it!! Many people in Florida will learn an unfortunate lesson after being punched in the head by Hurricane Matthew as they are...How to Title Property Correctly
Married Couples and Property Mary was a surviving spouse. She and her first spouse, Ryan owned a lovely home and placed it into joint tenancy with right of survivorship. After Ryan passed away, Mary met Logan and they were married. Because she had the house in joint...
Tax Doctor
- Tax Armageddon on the Way?Every new president makes changes to the tax code, so why is this time so different? The short answer is because our “books” as a country have never been in worse shape, not even during World War II. COVID related spending is only icing on the already giant cake of our current federal debt that […]
- Don’t Let Your Stockbroker Off the Hook When it Comes to Tax PlanningDon’t let your stockbroker off the hook when it comes to tax planning. Many people work with brokers when they buy and sell stocks. Many people now, because of the internet, also have become their own stockbrokers, doing their own research and trading on various platforms. Whether you use a professional or do your trades yourself, you […]
- Why Do the Wealthy Pay Less Tax than Others?Well, do they or don’t they, actually? Long debated and often manipulated by the media, the topic of the wealthy and taxation has many, many complex points and counterpoints. First, when people say that, they often don’t define what kind of tax. The people hearing the comment usually go to federal personal income tax in […]
- Overlooked OpportunitiesAn often overlooked tax planning opportunity comes from not fully understanding how you can use your cars as a deduction on your tax return. It is very common for people who have a Schedule C sole proprietor type business to claim their mileage on automobiles, but the privilege of using personal deductions on a tax […]
- Logical Tax PlanningIt’s hard to be logical all the time about everything. The most financially successful tax clients we serve at least attempt to force themselves to be logical, for their own benefit. For instance, our parents, as well as a subset of the economy including some popular radio show based advisors like Dave Ramsey, say you […]