Tax Deductions for Raw Land Investments

Purchasing raw (unimproved) land can be a great way to get into real estate investing. Raw land is ordinarily cheaper than land with buildings and other improvements. Moreover, you don’t have the expense of handling building maintenance and other upkeep, not to mention the headaches of dealing with tenants if you rent improved property. But […]

Tax Rules For Free Meals and/or Lodging to Employees

If you’re wondering about tax-free treatment for employer-provided meals and lodging, you may find the following overview helpful. Under Section 119 of the Internal Revenue Code, businesses can offer employees tax-free meals and/or lodging, provided they meet certain conditions. Tax-free means that such benefits are not subject to federal income tax for the employee, nor […]

How To Deduct Your Timeshare Stays

If you own a timeshare and use it only for personal and business lodging, you have a unique opportunity to maximize your tax benefits. Big Benefit The IRS allows timeshare owners who do not rent their property to claim deductions for business-related lodging without being subjected to the grim vacation-home rules. Guidelines for Maximum Tax […]

5 Rules for Turning Your Vacation into Tax-Deductible Business Travel

Here’s an idea: how about transforming your next vacation into business travel? With careful planning, your transportation to any destination could be fully deductible. This includes airfare—even first-class—luxury hotel stays, and cruise expenses. If you can tie your travel to business purposes, you can enjoy substantial tax savings, depending on your tax bracket. Two Main […]

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