Tax-related issues can be complex and challenging, especially when it comes to charitable donations. In this article I explore the tax-related problems faced by ...
Last week, the IRS provided tax relief to taxpayers who lived in Hawaii, where wildﬁres caused disaster.
It also provided tax relief to taxpayers in Illinois ...
Depreciation is a pivotal concept for anyone with assets in the business or rental sector.
Yet despite its signiﬁcance, depreciation can leave many taxpayers ...
You could run into the ugly hobby loss rule if you have an activity that creates a tax loss.
Why “ugly”? Because you could lose all your deductions and pay ...
I am a full-time real estate investor. In May, I paid about $15,000 for a one-week boot camp.
I know that the law does not allow deductions for ...
If you operate your business as a C or an S corporation and if you loan money to the corporation or the corporation loans money to you, you need documentation that ...
Let’s visit your business or rental building.
Here’s a Fact: The repair deduction is worth far more after-tax cash than a depreciation deduction.
If you go to a Dutch-treat lunch with a colleague or have a member lunch at your monthly chamber of commerce meeting, you face two opposing tax laws:
The law ...
The global food supply chain is complex and interconnected. Independent and associated producers, brokers, distributors, truckers, and front-line personnel collec...
The recent collapse of Silicon Valley Bank (SVB) and Signature Bank has raised concerns about the impact of bank failures on taxpayers. When banks fail, there is a ...
This is a story about Erin, a young woman who aspired to achieve financial success. Like many, she believed luck to be the sole key to success. Erin chased luck for ...
As someone who plays a reasonable amount of poker, I've learned that reading people is an art. The same principle applies to the business world, where how we ...
I'm almost certain that like myself you have some friends or acquaintances that have embraced the "Getting Back to Basics" lifestyle during the past couple of years ...
Good or Bad, Better or Worse, these Covid-19 impacted years have crystalized an experiential evolution in the modern workplace… Remote Working!
And, I am ...
If you operate your business as an S-Corporation, you will continue to enjoy good news in 2023 regarding your health insurance.
In this article, we give you the ...
Over the past couple of years, I’ve been all too aware of the evolution of meaningful discussions about an uncomfortable topic for some of us: The Dominant ...
The real estate boom appears to be over for now.
Morgan Stanley predicts that house prices could fall by 10 percent by the end of 2024, or perhaps twice as much ...
As you likely remember, the Section 1031 exchange allows you to sell a piece of appreciated real estate and defer all the taxes as long as you invest the entire ...
In Chief Counsel Advice (CCA) 202151005, the IRS opined on this issue.
But before we get to what the IRS said, understand that the CCA’s (Central Collection ...
It’s the new Year, and now is a great time for you to review your credit. Here are six (6) ways we suggest so that you might be able to do better in the coming ...
The stock market isn't doing so great these days. While a number of factors have played a role in this year's bear market (2022), skyrocketing inflation — the ...
For the business owner and tax practitioner, the most important part of the Inﬂation Reduction Act of 2022 was not the tax credit for ﬂashy new electric ...
Crowdfunding is the process of asking members of the general public for small amounts of money through any one of hundreds of crowdfunding websites.
The end of the year is near, so this week I'll speak to your Year-End Retirement Deductions since your retirement is one year closer as your clock continues to ...