By month: March 2022

Vacation Home Rental—What’s Best for You: Schedule C or E?

How you operate your rental property is important. For example, with services, you can create a Schedule C rental property. That can be good or bad. Learn why.

Entertainment Facility: Perk for You, Your Net Worth, and Your Employees

The Tax Cuts and Jobs Act tax reform crushed a big chunk of business entertainment tax deductions. Fortunately, your business entertainment facility escaped the mayhem and continues as a 100 percent tax-deductible facility. If you own (or want to own) such a business facility, make sure to review the rules in this article.

In This PDF Download Find Dozens of Hidden Home Sale Tax Breaks

Tax law gives you the opportunity to legally shelter up to $250,000 of gains ($500,000, if married) when you sell your home. You may know the basic rule on this, but there’s so much more as you find in this PDF download.

Avoid the Self-Rental Trap

Qualify for a special election that allows you to treat your rental and your business as one activity for federal tax purposes. This can give you the best of both worlds: (1) legal protection and (2) a tax shelter.

Tax Implications of Investing in Precious Metal Assets

At first blush, our beloved Internal Revenue Code appears to throw cold water on the idea of holding physical precious metal assets in an IRA. But as you will learn in this article, the tax code contains exceptions and alternatives that allow you to invest your IRA money in precious metals, both directly and indirectly.

New Hope for Restoring and Fixing the Employee Retention Credit

If you suffered from the repeal of the Employee Retention Credit (ERC) for the fourth quarter of 2021 and/or suffered from IRS Notice 2021-49 and its disallowance of the ERC on wages paid to the corporate owner-employee, you now have hope that one or both of these problems can be solved in your favor.

Download Your New 2022 Desktop Reference Guide Now

Download this two-page guide so that you have a handy desktop reference with the 2022 corporate and individual tax rates, estate tax rates, self-employed tax rates, Social Security and Medicare tax rates, capital gain rates, standard mileage rates, standard deductions, luxury auto depreciation limits, and select retirement and IRA limits.

IRAs for Kids

Does your child receive a W-2? If so, he or she should contribute to an IRA (preferably a Roth IRA), as we explain in this article.

Tax Treatment of Employer-Provided Meals: What’s New?

For decades, you have been able to provide employers with free meals as a tax-free fringe benefit. But with on-demand meal delivery available to most workplaces today, is this about to change?


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