As many of you know, our law AND accounting firm recommend to ALL of our clients to purchase at least one rental property a year for tax planning and wealth building benefits. It doesn’t have to be big, but at least something. Thus, I have created these “10 Steps to...
I realize this may sound cliché or even crazy, but the FIRST Step I have learned over my 18 years as an Attorney and CPA, is that if someone REALLY wants to build wealth and save taxes, they need to Start a Small Home Based Business. Please hear me out for those of...
The older I get the more I realize the sun doesn’t always shine and everyone, I mean everyone, at one point is going to face difficult financial times. It’s not if they are going to come, it’s when. Now, one of the best ways we can prepare for...
Natural disasters are all around us. It is absolutely astonishing how the weather patterns are changing and the impact they are having with unexpected impact all around us. Every day we turn on the news its earthquakes, fires, floods, tornadoes, and now even a...
Being audited is one of the most stressful and dreaded experiences a taxpayer can go through. It’s a wonderful blessing to live in America, and paying taxes comes with that privilege, but enforcement is a reality. Sometimes our actions will increase our chances...
Ok…so the real name of an IRA that can be used for education expenses is called a Coverdell Education Savings Account (Coverdell ESA). However, for simplicity sake, we in the accounting world generally refer to these powerful little gems as the “Education...
