On a recent vacation, I read Cal Newport’s book, “Deep Work.” Which got me thinking about tax deductions for deep work. Newport’s ideas have great … [Read more...] about Deep Work Tax Deductions
business taxes
The Section 183 Schedule C Problem
Last month we blogged about potential issues with short-term rentals and Section 183. Section 183 is part of the tax law that says you cannot deduct … [Read more...] about The Section 183 Schedule C Problem
BOI reports and Your Small Business
You’ll soon need to file a Beneficial Ownership Information report, or BOI report, about your small business corporation or LLC with the U.S. … [Read more...] about BOI reports and Your Small Business
If You Got Conned in ERC Scam
You wondered at the time whether it was a scam, right? And now you regularly see news reports about ERC scams. Employee retention credit scams, that … [Read more...] about If You Got Conned in ERC Scam
How EV Credits Work
Do you plan on purchasing a new vehicle within the next ten years? If the answer is yes, and good chance it is, you want to know how EV credits … [Read more...] about How EV Credits Work
Grouping Activities to Achieve Material Participation
This week, a quick discussion of grouping activities as backdoor way to materially participate. But first a bit of background about what material … [Read more...] about Grouping Activities to Achieve Material Participation
The Qualified Family-Owned Small Business Deduction
If you own or invested in a Washington state small business, you want to know about the qualified family-owned small business deduction. And here’s … [Read more...] about The Qualified Family-Owned Small Business Deduction
How IRS Audits Work
Audit anxiety is something nearly every taxpayer has in common. But, have you ever considered how IRS audits actually work? The IRS processes … [Read more...] about How IRS Audits Work
A Dozen Ways to Deduct Real Estate Losses
Tax law (and especially Section 469 of the Internal Revenue Code) mostly eliminates your ability to save big on taxes using real estate. That said, … [Read more...] about A Dozen Ways to Deduct Real Estate Losses
The Self-Rental Loophole
Long ago, there was no tax code that differentiated ordinary income from passive income or ordinary losses from passive losses. Life was good for … [Read more...] about The Self-Rental Loophole