Avoid This Family Member S Corporation Health Insurance Mistake
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 percent of an S corporation and provide health insurance coverage, there are three steps you need to follow to claim a deduction: Step 1. The cost of the insurance must […]
Plan Your Passive Activity Losses for Tax-Deduction Relevance
In 1986, lawmakers drove a stake through the heart of your rental property tax deductions. That stake, called the passive-loss rules, causes myriad complications that now, 37 years later, are still commonly misunderstood. The Trap In 1986, lawmakers made you shovel your taxable activities into three basic tax buckets. Looking at the buckets from a […]
6 Tax Deductions That Can Significantly Lower Your Taxes As A Real Estate Investor
Real estate is a rewarding investment that helps buyers diversify their portfolios and accumulate wealth. However, as with most major purchases and investments, real estate comes with its share of taxes. The IRS provides opportunities to deduct various business expenses to help minimize your tax burden. Here are six ways to lower your taxes as […]