Paying Management Fees from one of your Businesses? Beware the Tax Rules A recent Tax Court case (Little Mountain Corporation v. Commissioner) had to deal with a family that owned several different businesses (with common ownership). These [...]
New Tax Issues for Online Retailers If you sell any products (but not services) via your website, you may now have additional tax issues concerning sales taxes. Considering the recent US Supreme Court ruling, online [...]
Taxpayer Bill of Rights As a taxpayer, you are backed with your rights under the US Constitution, including your 4th and 5th Amendment rights. However, us American taxpayers are also protected by the Taxpayer Bill [...]
Every year, the IRS posts its version of the "Dirty Dozen"- the 12 most prevalent tax scams out there for the year. And this year is no different. Following/implementing any of these scams is a [...]
Starting in 2018, it is now possible to claim a 100% tax deduction for the cost of a vehicle. Here are the rules (be sure to consult with your tax advisor before implementing any tax [...]
The Tax Cuts and Jobs Act passed in December 2017 no longer permits an individual to deduct the interest paid on home equity loans. This is a major change in the tax laws and very [...]
Virtual Currency/ Bitcoin Taxation Bitcoin and other virtual currency are treated as “property” for tax purposes. For purposes of this article, I will refer to “virtual currency” with the understanding that it potentially could include [...]
December 2017: A few Tax Tips to Reduce Your Taxes! NOTE: Not all tax tips are applicable to all taxpayers. Please consult with your tax adviser/professional to see if these tips may work for you. [...]
If you missed my webinar for real estate investors and professionals earlier this month, here is a link for you to listen at your leisure: https://attendee.gotowebinar.com/register/2277137344403791619
A Nice Tax Win for Real Estate Investors! Another Real Estate professional beats IRS in Tax Court! The IRS is not, contrary to popular belief, invincible. Given that I often speak and write about [...]
