Asset Protection Explained

Asset Protection Explained

Most entrepreneurs think they have asset protection because they paid someone a few hundred bucks to form an LLC. They do not. What they have is a piece of paper that only works if they actually run the company like a separate company, and almost nobody does. Here is...
How Energy Tax Credits Actually Work

How Energy Tax Credits Actually Work

Most entrepreneurs only know one lever for lowering a tax bill, which is the deduction. Spend money, write it off, show less profit. Energy property tax credits work on a completely different lever, and almost nobody has had it explained to them correctly, so let me...
Hiring Your Kids Is Legal

Hiring Your Kids Is Legal

  Hiring your kids is not some hidden trick. A minor can earn a set amount of money each year completely tax free, and a business that pays someone for real work gets to deduct it. There is no secret provision that only applies because the employee happens to...
The Augusta Rule Mistake Most Entrepreneurs Make

The Augusta Rule Mistake Most Entrepreneurs Make

How to Actually Document the Augusta Rule So the Deduction Survives an Audit Most people who use the Augusta rule know the fourteen day part. Rent your personal home to your business for fourteen days a year or less and the income is yours, completely tax free, no...