So rather than just complain and not give any constructive recommendations, here are my 10 ‘Amendments’ I would propose to the House and Senate as you go through ‘reconciliation.
A quality and successful vacation rental property needs to be in the right location with consistent demand and not run into any local regulatory snags.
A good rental property strategy will not only to build an incredible long-term and sometimes immediate tax strategy, it will inevitably build wealth for future retirement and should provide current cash flow benefits if you choose wisely.
No one wants to pay extra penalties for not making a deposit with the IRS.
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.
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.
don’t let your inability to pay your tax liability in full keep you from filing your tax return properly and on time. If you don’t file your tax return, it only makes things worse.
How many of you build, track and utilize credit card points for personal benefit? It’s a great tax strategy
There are several ways to handle a parent’s home depending on their particular health or financial situation. At a bare minimum, your parents should have a Revocable Living Trust to ensure the orderly and effectively transfer of the home to the family and avoid probate in states where the expense is significant.
Once you start buying rental real estate, one of the top strategies we