How to Protect Your Gambling Winnings from the IRS
Your gambling income is taxable. And—just as important—it’s reportable. The good news is that you can offset your gambling winnings with your gambling losses provided you keep good proof of…
Buying a Business with Co-Owners? You Need a Buy-Sell Agreement!
Heavy Vehicle + Deductible Home Office = Major Tax Savings
Selling to a Related Party Can Kill Your Tax Losses
If you sell property to a related party, you may not deduct your loss on the sale. And this gets worse. The loss you cannot deduct no longer belongs to…
