Category: <span>Tax Tips</span>

Is a Property Fix-up and Sale an Investor or a Dealer Property?

Is a Property Fix-up and Sale an Investor or a Dealer Property?

Is a Property Fix-up and Sale an Investor or a Dealer Property? Background I’m an independent computer consultant who nets $100,000 from my proprietorship. I bought a house in March 2019, fixed it up, and sold it in April 2020 at a net profit of $85,000. I bought...
Tax Implications of Investing in Precious Metal Assets

Tax Implications of Investing in Precious Metal Assets

Tax Implications of Investing in Precious Metal Assets These days, some IRA owners and investors may be worried about being overexposed to equities. That could be you. But the safest fixed income investments (CDs, Treasuries, and money-market funds) are still paying...
Do you need more 2020 tax deductions?

Do you need more 2020 tax deductions?

Do you need more 2020 tax deductions?   Here’s an easy question: Do you need more 2020 tax deductions? If yes, continue on. Next easy question: Do you need a replacement business vehicle? If yes, you can simultaneously solve or mitigate both the first problem...
Last Minute 2020 Biz Deductions

Last Minute 2020 Biz Deductions

The purpose of this post is to get the IRS to owe you money. The purpose of this post is to get the IRS to owe you money. Of course, the IRS is not likely to cut you a check for this money (although in the right circumstances, that will happen), but you’ll realize the...