TAX SAVING

 

BLOGS

 

The Government has a ruthless and complex SYSTEM to take your hard earned profit from you.

Fight back with a system of your own.

Tax Reduction University (TRU) puts a system in your hands that gives you:

EDUCATION about what you should be doing to save money on taxes!

EVALUATION tools to connect the education to your personal situation

EXECUTION steps to take to implement tax savings!

Our blog resources is meant to give you tips, tricks, and introductions to the topics contained in the TRU System!

Crypto and taxes?

Cryptocurrency such as bitcoin is all the rage these days. Crypto is not legal money. It is property, similar to gold. Like gold, its use can result in taxable income. The IRS is concerned that you...
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IRS Increases Mileage Rate to 62.5 Cents Per Mile for Remainder of 2022

Well, there is good news and bad news here.  Good news is that the milage rate has increased for 2022. Bad news… it only is effective for the last 6 months. So, from Jan 1, 2022 through...
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Oh crud, I didn’t issue a 1099!

Imagine this: you didn’t issue Form 1099s to your contractors.   Now, the IRS is auditing your tax return, and the auditor claims you lose your deductions because you didn’t issue...
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What's The Deal With $600 and 1099's?

A common tax myth that I have heard is “If I earn less than $600 I don’t have to claim that as income, correct?” That is false unfortunately. The IRS requires that you report ALL...
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The IRS Wants Your Business Profits… And it’s tripling in size to make that happen!

This is insane! The IRS budget for 2021 was just under $12 BILLION and it’s set to grow to $100 BILLION in 2022 under the Biden Administration. WOW!!!  The IRS is planning to hire...
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Inside the mind of an IRS auditor… the Audit Technique Guides

Fun fact about the IRS, their website is a treasure trove of information. Like an overwhelming amount of information. One of the unique things that you can find on the IRS website is a catalog of...
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Understanding Your Compensation As A Real Estate Professional… or what I call the “Trust but verify method”

The #1 thing that I believe is important to understand is the broker fees & deductions. Ok, ok, ok… don’t discount me as a dummy quite yet.  This may seem super obvious but...
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Last chance for bonus depreciation…

Mega tax savings can be had with the bonus depreciation provision for most types of property. What does this mean?  Generally real property (office furniture, computer equipment, vehicles,...
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IRS Says TCJA Allows Client and Prospect Business Meal Deductions

IRS Says TCJA Allows Client and Prospect Business Meal Deductions  Hip, hip, hooray for the IRS! In Notice 2018-76, the IRS states that client and prospect business meals continue as tax...
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Audit Your CPA? Finding and hiring a tax strategist for your business…

  I spoke with a prospective client recently who said that they had been with their accountant for 20 years! I had just given a tax strategy presentation and he was blown away by the...
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