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IRS Audits: What You Need to Know
The tax deadline is now behind us. Yet, some individuals and business owners are always worried about if they did everything correctly to avoid getting audited by the IRS. Filing taxes can be complex and some tax codes can be… Read Now >>
The Real Estate Investment Benefits of a 1031 Exchange
June 30, 2023
An IRC Section 1031 tax-deferred exchange (or simply “1031 exchange” for short) is an important tax strategy to understand if you own investment real estate or real estate for business purposes. It can be utilized for any non-owner-occupied property, including… Read Now >>
Can You Deduct Home Office Cleaning Services?
June 21, 2023
Many people have home offices that may qualify for the home-office tax deduction. This is true if you run your primary business from home, work a remote/hybrid schedule or do freelance work on the side. You could be eligible for… Read Now >>
7 Alternative Investment Ideas
June 14, 2023
Most traditional investments can be classified as stocks, bonds or cash and they tend to be more liquid. “Alternative investments” (also known as “alternative assets”) are those that cannot be classified into any of these standard investment categories. They aren’t… Read Now >>
More States Moving to Enact SALT Cap Workarounds with PTETs
June 7, 2023
More and more states are implementing new passthrough entity taxes (PTETs), according to the AICPA State and Local Tax Technical Resource Panel (SALT TRP). The goal of these new PTETs is to act as a workaround for the $10,000 SALT… Read Now >>
Get More from Your Self-Employed Health Insurance Deduction
May 31, 2023
If you are a self-employed shareholder of at least 2% in an S-corporation, you may be subject to different tax laws. It is very important to understand how to report your health insurance expenses for the best tax benefits. Otherwise,… Read Now >>
Is Your Estate Plan Up-to-Date?
May 24, 2023
Whether you are ultra-rich or just have some wealth and important assets worth protecting, you need an estate plan. Too many people and their families fall victim to poor estate planning each and every year. You want to make sure… Read Now >>
Help a Family Member Buy a House with a Family Home Loan
May 16, 2023
Do you have a family member looking to buy a home, but is in need of your financial assistance? Here is a great way to provide them with a personal home loan, while both you and them benefit from a… Read Now >>
New EV Tax Credit Rules for Electric Vehicles
May 10, 2023
The IRS has updated its tax rules for electric vehicles. There are four ways you can take advantage of a federal EV tax credit for qualified electric vehicles placed into service in 2023 or later: Purchase a new EV and… Read Now >>
Education Fringe Benefits for Family Employees
April 26, 2023
If you have children who work in your business, you should consider offering them education fringe benefits. When you do this right, you can create some excellent tax deductions for your business while also providing tax-free education benefits for your… Read Now >>
Is Your Company Gym Tax Deductible?
April 19, 2023
Are you thinking about creating a company gym, fitness center or other athletic facility for your employees? It can be a great feature for a business campus. And, it is an excellent employee benefit to help with attracting and retaining… Read Now >>
