When you think of the reverse mortgage, you may not think of using it as a tax planning tool. If you are house rich but cash poor, the reverse mortgage can give you the cash you desire, save you a…
The strategy behind creating an S corporation and then selling your home to that S corporation comes into play when you want to convert your home to a rental property and take advantage of the exclusions, or you need more…
If you do some work at home, you’re probably using your home internet connection. Are your monthly internet expenses deductible? Maybe. The deduction rules depend on your choice of business entity (proprietorship, corporation, or partnership). Deduction on Schedule C If…
Do you own or lease non-residential (think “commercial”) real property for your business, or rent non-residential real property to others? If so, interior improvements you make to the property may be fully deductible in a single year instead of over…
