Tennessee Rentals and the FONCE Exemption
The FONCE (Family-owned non-corporate entity) Exemption is most common for rental property owners in Tennessee to save on taxes.
Last Minute Tax Strategies Before Filing
There are several HOT deductions that many taxpayers don’t consider and just ‘leave money on the table’. Here are 6 under utilized write-offs that in my opinion should be a healthy line item on any legitimate small business tax return:
The Real Estate Professional Tax Strategy
I’m often surprised how many taxpayers get fixated on being a Real Estate Professional as their primary tax-planning goal, while others avoid it like the plague. Yet, there are still others that don’t even know what the fuss is all about.
Moving to a Different State to Save on Income Tax
If you’re considering making a move to save on state taxes, create a master spreadsheet with all of the possible taxes, cost of the move, savings in the cost of living, etc., and carefully determine if it makes sense on paper. Then, if does, get to work taking the steps to actually move your residency or domicile. It doesn’t happen overnight.
How Short-Term Rentals are Taxed
More and more real estate investors are adding ‘short-term rental’ properties to their portfolios and with a lot of success. However, many still have questions about where to place them in their tax and legal structure.
When to use an S-Corporation
Don’t underestimate the power of the S Corp and get a second opinion if anyone says an S Corp isn’t the best fit.
Should I put My Spouse on Payroll?
Now although there are reasons not to put your spouse on payroll, I would argue there are two (2) GOOD REASONS to put a spouse on payroll before year-end. Both of these strategies create great excellent tax deductions and good use of money
Is the Single Member LLC a Solution for Me?
Single-Member LLC’s have their place in the spectrum of business entity choices, and whether such an entity is right for you will depend on the details of your own personal situation.
The Power of the Charitable Remainder Trust
The CRT is a very powerful estate planning tool that may enable you to reduce your liability for income and estate taxes, protect your assets AND diversify your assets in a tax-advantaged manner.
