Options Trading.

Options Trading.

Investment Strategy. Options. Important. This post is NOT investment advice. Investments in Etrade options are NOT FDIC-insured and may lose value all the way to $0. Buying puts/shorting a stock has severe or unlimited risks.  Day trading option has very big…

S-Corp Reasonable…

S-Corp Reasonable Compensation ins and out There is a lot of misconception on how to pay yourself that Reasonable Compensation when your company is an S-Corp. There is a big struggle to navigate between how much taxes you want to pay and how much you should pay. The…

HSA as a Tax…

HSA as a Tax Savings Strategy. Tax Saving Strategy I?m sure you have heard of HSA as a tax savings strategy.Now, let?s talk more about it, in case, you missed out on the key benefits of it.Let?s start by saying…

Financial Planning…

Financial Planning Doesn?t Start One Day Before the April 15th Tax Filing Deadline. Financial Planning Financial Planning Doesn?t Start One Day Before the April 15th Tax Filing Deadline. Is it April 15th and you are dragging your tax files to…

Foreigners Investing…

Foreigners Investing In Real Estate in the US Tax Implications When Foreigners Investing In Real Estate in the US The tax would be reported to the US because the property is located in the US. Under the treaty, it states…

Real-estate Exchanges

Like-Kind Exchanges As you already know, the Tax Cuts and Jobs Act removed personal property from the deferred tax treatment for like-kind exchanges. In most real-estate exchanges some amount of personal property is still included. Likely, there is a proposed…

The IRS has incr…

The IRS has increased the number of audits they perform regarding foreign accounts. Cryptocurrency Profit and Tax to the IRS The IRS has increased the number of audits they perform regarding foreign accounts. As you may already know, if you…

Tax Deductions…

Tax Deductions For a Business Business Tax Deductions: Home Office Deduction. According to the IRC 26 U.S. Code ??280A, https://www.law.cornell.edu/uscode/text/26/280A home-office must be in connection with your trade or business (or with your income-producing activity) (1)Certain business use Subsection (a) shall not apply to…

Meals and Entert…

Meals and Entertainment Deduction Meals and Entertainment are surprisingly under-explained.  Let?s start with the basics: https://www.law.cornell.edu/uscode/text/26/274 explains the basics of what can be deducted https://www.federalregister.gov/documents/2020/02/26/2020-03723/meals-and-entertainment-expenses-under-section-274  explains in details  https://www.ustaxcourt.gov/UstcInOp2/OpinionViewer.aspx?ID=11982  Court Case Fitch v Commr. Court Case The IRC explains the basics:…

Taxpayers? Tax…

Taxpayers? Tax Problems Can Be Avoided With A Timely ?Heads-up? from VirtTax Inc. What to do when you receive CP2000? When the IRS sends out CP2000 letters, they explain in detail what the taxpayer needs to do to resolve the…

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