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Tax Strategies For High Income Earners

Are you really a real estate professional?

There're a lot of people that call themselves real estate professionals, but in the eyes of IRS, there're some very specific things that you need to do and have in your background to be a real estate professional. One of…

Tax Strategies For High Income Earners

Unemployment Compensation

Is your unemployment Income Taxable? A lot of it depends on how much other income you have that year. Ask your CPA to do tax projection and tax planning for you. You may end up with payment plans or those…

Tax Strategies For High Income Earners

Household employees and employment taxes

Did you know that if you have a household employee (this is most commonly nannies or people that are employed inside your household doing household tasks on a permanent basis) that you really should be withholding and paying self-employment taxes…

Tax Strategies For High Income Earners

Penalty and RMD’s on retirement accounts

If you pull money out before retirement age, there is a 10% potential. You may want to consider or at least look and see if there's options for taking a loan from your retirement account rather than pulling the money…

Tax Strategies For High Income Earners

IRAs (a secret tax ninja tool)

  Today, I'm going to talk about a secret, so don't tell anyone, a secret tax ninja trick. It's called an IRA. There's self-directed IRAs, in which you can buy real estate inside your IRA, sell and gain on property…

Tax Strategies For High Income Earners

How to write off your dog

Today I want to introduce you guys to somebody really special. Are you ready? She is the newest addition to the Tax Goddess family. It is a German shepherd. She's a six month old little girl. As you can see,…

Tax Strategies For High Income Earners

Remember to pay yourself first

It's about paying yourself first! As business owners, we start a business, hire people, and get involved and these people become our family. We become involved and they become a part of making the success of the company. But when…

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