Need more tax-protected space? Consider giving part of your business to your spouse. Be sure to select the right amount of income to minimize the Social Security tax cost while maximizing the benefits.
Most docs realize the tax system is progressive. But do they realize that the health care system, the education system, and their own family is also?
Active real estate investors qualify for many unique tax breaks, some of which require you to be a "real estate professional" to get. Learn how to qualify, and also about deductions you can take without qualifying.
Many people don't realize that there are huge tax breaks available on both your current home and your second home. The home office deduction, however, probably isn't one of them.
Using a Section 105 Plan you can write off your employee's medical expenses. If you're careful, you might be able to write your own off as well.
Taxes should be a primary and ongoing focus of every investor. Read this for ideas to minimize the effect of taxes on your portfolio.
Retire Secure, by CPA/JD James Lange, is the best financial book I have read in the last year. I recommend you buy it and read it. However, it is not the first financial book you should read. But afte...
[Editor's Note: Many high-income professional investors first learned about the Backdoor Roth IRA on this site. One of my most popular posts is the tutorial on the process. In the lengthy comments sec...
Each of the last three years I have done a post about taxes where I "revealed" the tax rate I'm paying. I'm not sure why people find that so interesting (voyeuristic maybe), but I've had a bunch of re...
This post is a bit of a rant that developed in my mind as I prepared myself to move onto a PPACA-compliant health insurance plan this year. I also have the wonderful blessing of a dramatically increas...
From the pedestrian to the enlightened, this post should lend insight into one of the few areas where you actually have control in our new American Taxpayer “Relief” Act environment. “The hardest thi...
Have you ever wondered what is the most tax-efficient way to deduct your vehicle for business purposes? Is it more profitable to deduct mileage or actual expenses? The Mileage Method Tax Deduction Whe...
By Dr. James M. Dahle, WCI Founder The vast majority of good information out there about FLPs is written by those who are paid to create them (asset protection and estate planning attorneys) so as you...
Your children can help you lower your tax bill. Don't be afraid to take advantage by hiring them and gifting them money in a UGMA/UTMA.