Releasing Your Passive Losses
As you may know, the rental property rules have prevented you from deducting your passive losses in prior years. That’s [...]
Traits of Successful Team Players
Whether you’re forming a fully self-directed work team or leading a group that just needs to collaborate effectively, you must [...]
Tax Benefits of Hiring Your Child
You can pay your child to work in your business and get paid for paying your child. The basic mechanics [...]
Retirement Savings Mistakes to Avoid
Make one or two mistakes in handling your retirement money, and you could be paying a stiff penalty later in [...]
Avoid Recapture Tax When Selling Your Home
As you likely know, the depreciation you claim with your home-office deduction is subject to a recapture tax when you [...]
What’s Miscellaneous Deductions?
What do we mean by “miscellaneous deductions”? Miscellaneous deductions are tax breaks that generally don’t fit into a particular tax [...]
Get Tax Deductions by Renting Your Home to Your Business
We think you will find this story most interesting. It goes like this: Steve's tax professional tells him that IRC [...]
Tips to Avoid IRS Audit for Small Business
Let’s face it - nobody wishes for extra attention from the IRS. Most of us probably wish they’d forget we [...]
Turn Your Home Office Expenses Into Tax Deductions
You likely know that the home-office tax deduction provides tax savings to business owners. It turns otherwise nondeductible personal expenses [...]
New Health Insurance Rules for Small Businesses
Finally, the health insurance rules that apply to small businesses make more sense and allow some benefits. Beginning January 1, [...]