Search Help

Enter one of more keywords to search. Use quotes for “exact phrase.” Note that '*' and '?' wildcards are supported.

When your search results appear, you can refine your search further: Sort for only results in which all search terms appear AND/OR sort by chronological order.


By month:March 2016

Golden Nugget: New Write-Offs in New Repair Regulations

Get ready to thank the IRS. With the new tangible property regulations you can write off replaced components and achieve two types of tax savings. Before the new regulations, if you replaced a roof, you likely continued to depreciate the old roof and also depreciated the new roof. The old roof—the ghost roof—usually triggered additional recapture taxes. You are going to like the new rules, especially the two new types of tax savings.

Selling Your Business: Sell Corporate Stock as an Asset Sale

If you are selling your S or C corporation, you have plenty to think about. And of course, the buyer has much to think about too. By using an election in the tax code, you and the buyer can get on the same page so you can sell with one level of taxation and also give the buyer what the buyer wants most—a step-up in basis of the assets acquired.

Q&A: Social Security Loophole Closing: Act Immediately


Home-Office Deduction: Should I Claim Depreciation?

Do you claim the home-office deduction? If so, did you claim zero depreciation on the office so you could avoid the recapture tax? If yes, you need to spend a few minutes with this article to see whether that zero depreciation on the home office was a good idea or not.

Should Your S Corporation Buy Life Insurance?

What happens if you die? Or, in particular, what happens if you own an S corporation with others and one owner dies? Will you want to deal with the heirs? If not, how will you pay off the heirs? You might find the answer in an employer-owned life insurance policy, as discussed in this article.

Q&A: Affordable Care Act


Business Loss? Recover with Net Operating Loss (NOL) Strategies

You need to thank your lawmakers for the ability to claim your net operating loss (NOL) against income from other years. Think of it: tax deductions you incurred this year that exceeded your current-year taxable income turn into tax benefits, either immediately by carrying the NOL back or in the future by carrying the NOL forward. This article explains how this works, what you need to do, and how to see where you get the most dollars for your effort.

Make Magic with a Section 105 Plan

Health insurance premiums are rising at an astronomic rate. This is one of the biggest monthly expenses for many families. That’s where, because you are in business, a properly planned and executed Section 105 plan can work for you. This plan works like magic—it turns your medical expenses into tax-favored business expenses.

2016 Tax Guide for Debtors on Foreclosure of a Home

Few things can rock your world like the prospect of losing your home. In a foreclosure, the lender sends you one or two Form 1099s that will worry you too. The 1099s could show that you have cancellation of debt income (that’s taxable income). And then, just to pile on, the foreclosure that took away your home might trigger a taxable gain. That’s all bad news. But when you know the rules, you’ll see that you can make some or all of the bad-news tax problems go away.


[ View / Print full text of all articles in this issue ]