By Chase Ravsten, Vice President of Vistia Capital Investing in oil and gas can offer potential advantages: Oil and gas are still a staple of energy and production here in the United States and in most of the countries across the world. Many think we must have significant land with
When you use a vehicle for business, the tax benefits available go beyond the date of purchase. The IRS also allows you to deduct your annual business mileage as a business expense. This is easier said than done, especially if your vehicle use is split between business and personal trips.
The Internet abounds with incorrect interpretations of the rules around vehicle tax deductions. Saving on taxes by using your car for business sounds convenient and appealing, but understanding the actual guidelines is key for this strategy to be effective. What steps do you need to take to gain tax savings
As an entrepreneur, you have already established that you are an out-of-the-box thinker. After all, you developed a product or service that delivers value your competitors simply don’t offer. However, there is more to launching your business than a well-thought-out marketing mix. How you structure your company may impact your
How do you know if your rental property qualifies for the 20 percent tax deduction under new tax code Section 199A? Just what we need–something else to learn along with all of the other tax code changes this year. Well, maybe not. There is a piece of good news: we
Are you concerned about being stuck with large capital gain this year? What if there was a way to avoid it? How about for the next 10 years? If you’re facing beefy tax payments because of capital gains, this tax break may be worth exploring. The program is part of the
Aside from contribution-only donations to established 501(c)(3) charities, the gift/non-gift distinction has always been rather subjective. For example, assume you give money to a children’s choir which then performs at your wedding. The financial value of that quid pro quo is subjective, at best. Crowdfunding contributions have muddied the waters
More and more Americans are starting to use real estate as a primary or secondary income source. From renting out a space as an Airbnb to renovating a second home for rent or sale, taxpayers may already have unrecognized opportunities to earn extra cash from their properties. However, many taxpayers
Looking to invest in real estate? The many tax loopholes available can make this an attractive source of income—but first-time property owners may feel uncertain about taking advantage of these tax breaks. Rest assured that legitimate loopholes were intentionally created by the government to promote property ownership. By enticing taxpayers
By Susan Doktor See that cooing, cuddly bundle of baby love you’re rocking in the cradle right now? You’ll be sending him or her off to college in the blink of an eye. Don’t believe me? Ask one of the millions of parents who came up short-handed when tuition bills