Some companies may seem to escape death, but they will never be able to escape taxes. That doesn’t mean there aren’t some tax benefits that only the corporations are getting. Companies are tempted to incorporate…
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Benefits of A 1031 Exchange
A 1031 exchange is a powerful tool that can be used to defer taxes on the sale of an investment property. By reinvesting the proceeds from the sale into a new property, investors can avoid…
1031 Exchange Basic Info
‘In this world,’ said the great Benjamin Franklin, ‘nothing is certain but death and taxes.’ While modern medicine continues to work on a cure for mortality, 1031 exchanges offer a valuable mechanism against the foibles…
Tax Jokes – ‘Tis The Season!
It’s the season for tax preparers everywhere to get busy doing your returns. In the spirit of levity, here’s a few bad tax jokes for all of us dealing with taxes (which is every American…
Real Estate Tax Traps
Perhaps one shouldn’t be surprised that new real estate investors repeatedly fall into the same tax traps. With some tricky tax accounting, real estate burdens investors—especially new investors. But just because some other newbie makes…
401k Plan Basics
Many employers offer 401(k) plans to help their employees save for retirement. However, there is much to learn about the 401(k) – details and explanations that will help someone decide whether a 401(k) is right…
7 Tax Prep Tips
Well, it’s that time again — tax time. It’s time to gather all those rumpled receipts from the shoe box and straighten them out. Whether you are doing your taxes or having the service performed…
Depreciation of Computers and Mobile Phones
Keeping up with the latest and most excellent devices can be challenging with the ever-changing technology landscape. But when it comes to your business, it’s essential to know how depreciation rules for electronics can affect…
When Do I Need To File an Income Tax Return?
The Internal Revenue Service (IRS) requires you to file a federal income tax return if your income meets certain thresholds. The amount you make each year generally determines whether you must file a return. If…
Paying Taxes With Your Credit Card is a BAD Idea
If you own your own business or have not been deducting enough from your weekly paychecks, you will probably owe some income taxes when tax time rolls around. This is never fun, and if you…