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By month:September 2015

Use Business Travel to Create Tax-Free Income for Friends and Family

Stay with family and friends when traveling for business. And then create tax deductions by paying them for your business lodging. You have a choice: deduct the cost of staying at the big hotel downtown, or deduct the cost of staying with your friends or family. Either way, the choice of location does not change the fact that you are on a tax-deductible business trip. The side benefit is that doing this right creates tax-free income for your friends and relatives.

Use These Strategies to Avoid Getting Slammed with Taxes When You Roll Over a Traditional IRA to a Roth

A Roth IRA is an extremely attractive option for retirement savings, since you can grow those earnings completely tax-free. You can convert your traditional IRA to a Roth IRA no matter how high your income. But you could get slammed with a hefty tax bill when you make the switch without a plan. In this article, you find three surefire strategies that will not only minimize your tax bill when you roll over those funds to a Roth IRA, but in some cases also eliminate the additional taxes completely!

Q&A: Health Insurance Deduction for Solo Owner-Employee of a C Corporation


Use Seller Financing to Create Wealth

If you are selling a rental property or your home, you should consider seller financing as a possible method to achieving a rate of return better than you are receiving from your current investments. This article gives you six ways to improve the structure of your seller financing so you can pocket more cash.

Q&A: IRS Audit


Cash In When the Buyer Defaults on Your Seller Financing

You may want to consider seller financing when you sell a rental property. It can boost your rate of return. Now, you might say “Yeah, but what happens if the buyer doesn’t pay up?” There could be a big silver lining here that you haven’t considered, and that’s why you should read this article now.

Pay the Nanny Tax and Make Money Doing It

If you plan on paying a nanny at least $1,900 during 2015, then you need to pay the nanny tax (payroll taxes from you, the employer). This strikes fear into many taxpayers who think this is a HUGE HASSLE and a HUGE EXPENSE. But there’s no need to fear this tax. In this article, you learn how you can offset most, if not all, of the tax expense with the help of a couple of tax breaks. In fact, you may actually end up with more money in your pocket in the end.

Cut the Cost of College with Tax Credits

The paradox of choice applies when you consider the multitude of tax benefits available when paying educational expenses. In this article, we help you put money in your pocket by taking both the paradox of choice and the complexity out of two education tax credits with our step-by-step guide.

Selling Your Business: Should You Sell Your Ownership Interest or the Business Assets?

If you are selling your business, you likely want minimum taxes and no exposure to business-related liabilities once the sale is completed. That’s what this article is about. In an asset sale, you see types of taxes and opportunities that make the asset sale work to your advantage. In a stock sale, you likely get tax-favored capital gains, but you may have to give up something to the buyer.


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