Why You Should Set up Solo 401k
Thursday, July 25
What is a Solo 401k? A Solo 401k is a great retirement plan for self-employed individuals or business owners with no employees or part-time employees only. Business types such as sole proprietorships, family businesses, partnerships, and corporations can take advantage of what the Solo 401k has t...
Ten Reasons NOT To Use Corporations for Real Estate Ownership
Thursday, July 18
Why use an LLC partnership instead of a Corporation? LLC partnerships avoid the following corporate disadvantages by default (automatically); by election; or by planning. When referring to a partnership the term “partner” includes a member of an LLC or more specifically of an LLC partnership. S...
Pre Audit Preparation Tips
Thursday, February 29
Everyone should do their utmost to prevent an audit on their taxes, but you should always be prepared for an audit. The best way to increase your chances of coming out of audit unscathed is to keep excellent records. The IRS will not take your word as proof of anything, so it pays to have as much...
IRS Audit Prevention Tips
Thursday, February 08
There are many ways to reduce your chances of being audited by the IRS. As we’ve discussed in previous articles, the IRS has red flags for certain industries and tax filing behavior. Unfortunately, real estate investors and business owners stand a far greater chance of being audited than their sa...
Last Minute Year End Tax Tips
Thursday, December 14
There’s not much of the year left and many people are scrambling to save whatever they can on their taxes. Yes, it’s quite possible to save a ton of money before the year is out and start the new year fresh ready to focus on wealth building, now more than ever is important to attend to your year ...
Year End Tax Saving Tips for Real Estate Investors
Thursday, December 07
At this time of year, real estate investors, landlords, property owners, and vacation owners must take advantage of tax-saving opportunities. Tax planning should be a priority so you can reap the rewards when tax filing time rolls around. Here are some year-end tax strategies to use, but you must...