passive income

Reclassifying Non-Passive Income

Leave a Comment / Blog, Business Strategies, Individual Strategies, Loopholes /

One strategy regarding income recharacterization is to shift non-passive income to passive income. Non-passive income is any income earned actively by the taxpayer: wages, salaries, self-employment income, etc. Passive income includes income derived from real estate, limited partnerships, interest in dividends, and more. In summary, passive income is any activity where the taxpayer is not […]

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How To Turn Your Business Into A Temporary Staffing Agency

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Today, we want to follow up last week’s post on renting out your office space by discussing a different type of “subletting.” If you hire employees for the tax season, our guess is that you’ve experienced the frustration that comes with losing employees or being forced to lay them off during the off-season because you

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