There are a variety of legal settlements that taxpayers may receive. Some legal settlements are taxable and some are not. This episode eliminates the mystery and explains when a legal settlement is taxable income and when it is not.

Required Minimum Distributions (RMDs) were placed into law to make taxpayers with income in retirement plans, which they have not yet paid tax on, to start taking this money and pay tax on it. This can increase your income and under the new tax law with it’s higher standard deductions an itemized deduction to a charitable organization may not yield any benefit. This episode explains a way to net your RMD with a charitable deduction!

When individuals sell or exchange property they often enjoy certain tax benefits. Some of these benefits are long term capital gain treatment, installment sale reporting and the ability to report losses. These rules are generally nonexistent when selling to related parties. Please don’t fall into these traps.

If you own a cash based business there are some strategies that can still be legally implemented at the end of the year. This podcast covers the most effective strategies that can literally save you thousands of dollars!

There has been a lot said about the reduction of the corporate income tax rate to 21%. This episode explains the reasons you may want still want to elect S corporation status as well as some traps to be aware of.

This episode clears up the mystery surrounding what Required Minimum Distributions are and what the requirements are for individuals.

There are various entity types available for businesses. Your business may be structured as a sole proprietorship, partnership, S corporation, C corporation or even an LLC or LLP. The way you deduct health insurance differs based on your entity type and this episode explains the differences.

This episode explains how a taxpayer that wishes to convert his/her home to a rental property can save money by first selling the home to an S corporation.

According to a recent survey assisted living facilities are nearing $50,000 per year and nursing homes are edging closer to $100,000 per year. Learn how to expense these costs as medical expenses.

The Tax cuts and jobs act had many provisions that both helped and hurt individual taxpayers, however almost all the rule changes for business were positive. This episode explains how to utilize the new law to reduce taxes on your pass thru business and ultimately reduce your income tax bill.