What If I Can’t Pay My Taxes by October 15th?
Even some of the most careful and successful people have faced unforeseen financial situations due to covid, and although there are NO MORE extensions this year, there are a few things you can AND need to do that will lessen the pain, and frankly minimize any collateral damage.
The Best Strategy to Deduct Your Auto, SUV or Truck in 2020
The Auto Deduction is the best it’s been in over 30 years, with business owners being about to write-off a vehicle faster and with even bigger deductions!
Plan Your Travel for a Big Tax Write-Off
Making sure our travel has a ‘business purpose’ is critical and a perfect opportunity for business owners for a great tax write-off.
How to Protect My Personal Residence from a Lawsuit
For most of us, our home is one of our most valuable assets. It truly is our “castle”, but it can also be one of our most vulnerable assets. Here are 8 strategies that should considered in a well designed Asset Protection Plan.
The Difference Between Sub-Contractors and Employees
There are facts and circumstances most commonly used to determine the difference between an employee and sub-contractor. It’s a 3 part subjective analysis and some facts may indicate that a ‘worker’ is an employee, while other factors indicate that the worker is actually a sub-contractor.
7 Deadly Outcomes of Treating Employees as Sub-Contractors
The IRS consistently warns taxpayers to not get caught paying ‘employees’ as ‘sub-contractors’. But believe it or not, the IRS, may be the least of your worries. There are 7 deadly results that could occur by trying to call an ‘employee’ a sub-contractor when it’s truly not the case.
The Power of the Health Savings Account (“HSA”)
The Health Savings Account is one of the most powerful pieces of a well designed health care strategy. It includes saving money, saving taxes, building a tax-free ‘bucket’ for health care and most importantly taking control of your own health care strategy.
Rules for Foreigners Investing in Rental Property in the U.S.
The U.S. tax rules that apply to ownership and dispositions of U.S. real estate by foreign persons are different in some important respects from the rules that apply to U.S. persons. Also, property managers are under special rules when managing property for foreign owners, and sellers to foreign investors can be classified as withholding agents (which have important obligations and liabilities associated with the classification).
How Much Money Should I Send in with My July 15th Extension?
No one wants to pay extra penalties for not making a deposit with the IRS. So I want to give you a few tips to make sure you understand the rules when it comes to filing a personal extension. Remember an Extension is NOT an “extension” to pay any taxes you may owe, but an “extension” to file.