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.
If you have rental losses, you DO NOT want your enterprise to be considered QBI and included in the 199A Deduction calculation, BUT you (or your spouse) DO want to be considered a real estate professional in order to deduct the losses against your other ordinary income.
For most of us, our home is our most valuable asset. As such, protecting your home from potential law suit is absolutely critical and overlooked by many homeowners. There are options!
Hiring a sub-contractor or freelancer can be the perfect strategy for many small business owners to save money and build their business.
Our government and society rewards taxpayers that donate with powerful tax incentives. Don’t feel bad to track your charitable giving and activities.Â
Making these changes may be uncomfortable, but critical to survive. What do you have to lose? If your business is headed in the wrong direction, any change could make the difference!
So is umbrella insurance inherently bad, a scam or worthless. No. But, is it for everyone? Another absolutely not! But heaven forbid insurance companies let anyone else say otherwise.
Since an LLC or Corporation is not an individual, it cannot have process served on it unless someone is appointed to serve as an ‘agent’ for the company. All 50 states require that such a person be appointed- This person is the Registered Agent.
Tax laws have changed even for RV owners. However, you can still potentially save state income taxes by changing your domicile, writing off the RV as a business expense, or even save money by cutting the cost of traditional home ownership.
Wouldn’t it be nice if you could get a little help from Uncle Sam as well as a tax write-off for some of that pet food, vet bills, or even that big price tag at the breeder? Well, there might just be an option to save some taxes in the process.
The IRS is stepping up its audits on those with workers in their private homes. Make sure you are up to speed on the rules that apply to you AND your help.
This is a unique trick we implement for several clients each year. If you previously paid a lot in Self-Employment Tax and for some reason had an LLC (sometimes a major mistake by other planners), you can easily still elect it to be taxed as an S-Corporation retroactively to January 1st, 2013
