As a fellow parent with college age children, I certainly understand the pressure and stress college expenses can put on a family. I strongly encourage you to study the options above and see if they could possibly work in your situation.
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.
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:
Here is a list of the TOP 10 things TO do, or NOT do, in order to avoid an audit with the IRS. As many of you can imagine, an audit can be expensive and time-consuming, not to mention, emotionally draining experience. Please take these to heart.
Remember the good old days when you could write-off 100% your new SUV or Truck under the 179 deduction? That was the wild wild west (pre-2006), and then we all became quickly familiar with the $25,000 cap on writing off these gas guzzling vehicles. However, the game has changed with possibly an unintended loophole under the new Tax Cuts and Jobs Act (TCJA). The silver bullet: Bonus Depreciation.
Things have changed in 2018 when it comes to writing off meals and food expenses in your small business. Entrepreneurs, have to reevaluate their budget for the food and dining.
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).
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.
How many of you build, track and utilize credit card points for personal benefit? You can pay your taxes using a major credit card or a debit card online. Individuals can make these payments 24 hours a day and seven days a week.
Let me set the record straight and share what I think to be one of the most incredible ways to save for college education.