By month: January 2010
The zero salary strategy is getting hammered by the IRS and the courts. You need to take a reasonable salary. If your purpose in having the S corporation is to save self-employment taxes, you want that reasonable salary to be audit-proof low.
Would Section 179 expensing make the IRS rates a bad deal for you? How about leasing or the luxury limits? Know for sure when you use the analyzer that comes with this article.
IRS mileage rates contain a depreciation surprise for many taxpayers. The depreciation might be hiding cash that can be yours with a simple strategy.
Section 1031 exchanges are perfect when you are going to stay in the real estate rental or investment business. When it’s time to cash out, you need to look at different strategies that help you avoid taxes and give you cash to spend (liquidy).
Proper business use of your timeshare grants business tax deductions.
With one business use of the home office and no personal use, you qualify for the deduction. The second business use, employee use, and spouse use must equally qualify for the home-office deduction, or else.
Making gifts to promote your business is complicated by time, inflation, and poor tax legislation. Make sure you know the rules so that you keep your tax deductions on your tax return.