Feb 10 What To Know About Health Care Credits
A premium tax credit is designed to lower the total cost of health insurance plans that are already relatively expensive in the United States....
Sep 24 IRAs to Charity: A Useful Estate Planning Technique
This post explains why you should follow a tax-saving strategy that considers designating your favorite charity or charities as beneficiaries of all or a portion of your IRAs. Then you can leave other assets to family members and other heirs....
Sep 10 What Is Tax-Efficient Investing?
Avoiding taxation should not be the only goal, or even the main goal, of your investment strategy. Still, you always have to keep taxes in mind to make sure you're not unnecessarily sending too much of your money to the government. This post talks about...
Nov 20 Excluding Gain on the Sale of a Principal Residence
One of the most valuable assets a taxpayer will ever sell is their personal residence. Under IRC Section 121 of current tax law, a taxpayer can exclude up to $250,000 ($500,000 if married, filing jointly) of gain realized on the sale or exchange of a...
Nov 20 Special Tax Allowance for Rental Real Estate Activities
If a taxpayer fails to qualify as a real estate professional, losses from rental activities may still be deductible. While real estate professionals are afforded beneficial tax treatment enabling them to deduct losses from their real estate activities, real estate nonprofessionals taxpayers may still benefit....
Sep 13 For Tax Savings, Consider an IC-DISC for Your Exporters
Did you know there is an underutilized tax incentive that can reap federal tax savings for manufacturers? One middle-market manufacturer recently saved approximately $300,000 in current year federal taxes by implementing the IC-DISC tax incentive, which promotes exporting goods manufactured in the United States that...
Jul 03 How are start-up expenses treated for new rental properties?
When projecting taxable income from your new rental property be mindful of start-up expenses, which are treated differently from expenses incurred when the property is ready and available for rent. ...
Jun 20 Allocating Between Land and Building when Acquiring Rental Real Estate
How purchase value is divided up between land and buildings impacts the depreciation tax benefits you get as a real estate owner. Here's what you need to know....
Nov 22 Consider Converting to an S Corporation to Avoid Taxes
If you have a closely held corporation that is set up as a C corporations, you need to consider electing to be taxed as an S corporation, where there is only one level of taxation. This post reviews S corporation eligibility requirements and points out...
Oct 24 Tax Planning Strategies – Minimizing 2016 Individual Income Taxes
It is never too early to get a jump start on tax planning. Why not start now and minimize end of the year holiday stress? These four tax strategies could help reduce 2016 taxes....
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