Tax Planning Strategies

Win the Tax Game!

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Since leaving the U.S. Department of Treasury (IRS) in 1995, Scott has made tax education his primary focus.  This has included authoring several books, speaking at numerous conventions, seminars and other group events, hosting webinars and appearing on live TV on many occasions to encourage people to consider tax planning as a vital component of their overall financial well-being.  As a continuation of this goal to help average Americans understand the tax system, the IRS and ways to beat the system and lower their overall tax bills, Scott will be adding forms, checklists and other helpful tax information to this page on a frequent basis.  Please check back regularly to see how you can lower your tax bill via some new tax strategies/tax solutions!

Tax Benefits of Owning Your Own Home

There are many tax benefits to home ownership (owning your personal residence).  These include tax deductions that you can claim in the year that you purchase the home, along with tax deductions for the years [...]

May 19th, 2017|

Real Estate Professionals and Tax Planning

Qualifying as a Real Estate Professional has many tax benefits which help to reduce current income taxes.  Like most other tax planning strategies, the rules are complex and often very confusing.  This short article on real estate [...]

April 9th, 2017|

Rental Property Tax Deductions

Many rental property owners fail to account for all of their "ordinary and necessary" rental property tax deductions, causing them to overpay their taxes every year.  These include any actual out-of-pocket expenses (such as repairs, [...]

February 20th, 2017|

Education Expenses: Are They Tax Deductible for Your Business?

Education expenses are tax deductible IF…    The education costs are:   (1)  Required by your employer or by law to keep your job, OR (2)  Needed to improve your skills you use [...]

December 27th, 2016|

Real Estate Benchmark Calculations

Many new real estate investors struggle with the financial calculations needed to determine if a particular piece of property is a worthy investment.  While there are many factors that go into this important decision, we [...]

September 21st, 2016|

Second Quarter 2016 Tax Updates

This brief letter has tax updates (Second Quarter 2016) concerning work clothing tax deductions, Obamacare, cash payments for IRS now accepted at 7-11 and the Social Security wage base for 2017.  Some of these important tax [...]

September 20th, 2016|