By month: April 2008

How the New Law Stimulates Your Business

This could be the perfect year to buy that rental property or building for your office. The new 50 percent bonus depreciation, new $250,000 expensing limit, and new higher luxury limit make 2008 the year to seriously consider making business purchases.

How a Buy-and-Sell Strategy Combined with Section 179 Expensing Can Put Self-Employment Tax Dollars in Your Pocket

You can take advantage of Section 179 expensing to put money in your pocket! By working the tax law, you can arrange your business assets to decrease your self-employment tax and save money.

How Trade-ins Avoid Taxes

The trade-in of an old business asset on the acquisition of a like-kind replacement business asset is a tax-deferred exchange, exempt from depreciation and Section 179 recapture. Use this to your advantage and save money every year until you die.

Don’t Do the Worst Thing You Can Do to Your New Vehicle Deductions

Don’t blow your deduction – use your vehicle more than 50% for business. If you don’t, you must recapture Section 179 deductions and recapture MACRS deductions. Aim gun, shoot foot.

New Safe Harbor for Tax-Deferred Exchanges of Annuity Contracts

Big changes have happened to financial instruments in the last few years. You can take advantage of a new tax law that allows one to exchange one annuity for another, and save in tax deferments.

AMT Crushes Bad Debt Deduction

The AMT taxes the deductions you claim on your regular tax return. No, you are not in the Twilight Zone, you are right here in the good ol’ U.S.A. Learn the details of this outrageous act.

Loans to Corporation Denied as Bad Debts

Douglas Bynum lent his corporation money before it went bankrupt. He filed to deduct this bad debt, but did it incorrectly. Learn from his mistakes and know the details to do it right.

Cost of MBA Lost as Education Deduction

With some tax planning, you can pretty well put together an education deduction for an MBA. As long as it enhances your career and doesn’t set you on a new career path, the MBA is deductible.

Section 105 Plan Fails Without Reimbursement

The Section 105 medical reimbursement plan is a terrific tax-planning tool for the husband-and-wife business. But, as with any tax-reduction tactic, doing it right is critical.

Cruise to Alaska

It is easy to deduct business trips within the US. We have a series of criteria and tips to help you plan your next (business) trip.

Hunt Doctor Courses

You need a solid plan when you want to combine deductible education with deductible hunting.

Home Office

One taxpayer’s CPA is totally wrong about three things: deducting a home office for multiple offices, net square footage, and using the office for rental properties.

Dealer or Investor

One taxpayer fixed up a house to sell it for a net loss. To save money on taxes, he can file as a real estate dealer, and not as an investor. Precedents and technical definitions help his case.


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