Buying real estate for investment is a popular strategy for building wealth. This article explains:

• The questions you should ask when buying real estate for investment

• Five powerful benefits of investing in real estate

• How to avoid capital gains tax

If you are a travel enthusiast my guess is that you will be constantly searching travel sites to find cool places to visit, or you could be wondering why you never have time to travel and promise yourself that something will change soon.

If you operate your business as a professional service provider where your clients rely on your expertise to provide service, here, I am talking all lawyers, doctors, accountants ...

There are several ways that young families that own businesses can benefit from the tax law, increase their tax deductions, and also have more cash in their family bank account. The great news is, you can get this done tax-free. 

With the high cost of health care, business owners need to ensure that they are maximizing their deductions by implementing the right steps to claim 100% of their expenses incurred for healthcare. You are eligible to utilize the self-employment insurance premium deduction on your individual income tax return (Form 1040). 

Self-employed individuals are eligible to utilize the self-employment deduction on their individual income tax return (Form 1040). They are also able to deduct the amount paid for medical and dental insurance and qualified long­ term care for your family.

 Most people are unaware of another type of tax return fraud, where the tax preparer files a return on your behalf, but claims inflated personal or business expenses, false deductions, unallowable credits or excessive exemptions. 

Business entity selections are not only important for start-ups, but also for more mature businesses. The more complex a business gets, the more flexibility may be needed in order to maximize tax savings. 

Tax planning provides a way for business owners to keep more of the money they earn. The key to tax planning is knowing the right deductions that will work for your unique tax situation. For example, getting an S-corporation election one of the most common tax planning strategies to lower self-employment tax.  

For most business owners the best part of tax season is getting large deductions to lower their tax bill. A tax deduction is a decrease in taxable income based on business spending or use of resources. But what happens, when a business owner doesn’t understand how much they can deduct? 

Self-employment tax can be a nightmare for owners of limited liability companies (LLCs) and independent contractors. During tax season, they incur a larger than expected tax bill due to self-employment taxes. LLCs are the most common form of business because they are easy to establish. If one person owns an LLC, it is referred to as a single member LLC (SMLLC).