When you leave the U.S. to live in another country, you essentially have two choices from a tax perspective, both of which can cost you
I have great news! You can have in your real estate portfolio both investor and dealer properties. This distinction is significant for tax purposes.
For 2024, you can elect the de minimis safe harbor to expense assets costing $2,500 or less ($5,000 with audited financial statements or similar). The
Contrary to popular belief, the IRS does not limit business owners to claiming deductions on only one business vehicle. You might maximize tax benefits by
I am writing about potential COVID-19 sick and family leave tax credits you may have overlooked on your 2020 tax return. You might be eligible
I am writing about a significant opportunity for your business to qualify for the Employee Retention Credit (ERC). As we are in 2023, you still
You need an estate plan, regardless of whether or not you are among the ultra-rich. As recent news has shown, even those who have won
Are you considering a bold tax position that may significantly reduce your taxes? If approved by the IRS, it’s a win. But if disapproved, be
The IRS recently issued new guidance on electric vehicles. There are four ways you can potentially benefit from a federal tax credit for an EV
I know you have been thinking about employee fitness and possibly a gym or other athletic facility. To be tax deductible, your gym or other
Health Savings Accounts (HSAs) are designed for use alongside high-deductible health plans, assisting you in covering your medical expenses. They can also function as an
The $75 rule applies to certain business expenses where you do not need a receipt. But I emphasize that this rule does not apply to
I’m reaching out to remind you of two important issues related to health insurance deductions for S corporations. First, if you own more than 2