USTaxAid Services

Depreciation can be a significant source of tax savings, but only when it’s handled properly. Handled improperly, you could accidentally reduce your deduction, or even suspend it entirely. Listen in on this brand new Online Workshop to find out what you need to know to make sure you get all the savings you’re entitled to. ...

The IRS recently issued the 2010 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2010, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 50 cents per mile for ...

We are getting hit by the tax payer nightmare. There are three changes occurring at once, all of which mean you’re going to pay more tax. First, there is more aggressive state and federal tax legislation. Look for more taxes in general. You probably have heard about some of the federal changes, but might not ...

The IRS started challenging the real estate professional status over two years ago. Since then, we’ve seen a lot of audits, unfavorable audit results and a few court cases. The real estate professional status allows taxpayers to take full advantage of real estate losses against other income. Without that, your loss is limited if you ...

Want to save money in incorporation costs? Make sure you start with the right business structure, or the money you save could be eaten up in additional unnecessary taxes! Join me for a brand new Online Workshop and learn how to make the smart choice with your new business structure. read more...

Do you feel that you’ve got a good handle on your tax planning for the year? The window is closing fast. After that there isn’t a lot you can do to do about the year. If you wait until January or later, 2009 will pretty much be done. If there were opportunities to pay less ...

When Congress extended a key tax break for new homeowners, they added in a new tax break bonus for for existing homeowners as well. You can save up to $6500 in taxes if you are in a position to take advantage of this new break. read more...

As an incorporation service provider, I generally know how long it takes to get someone incorporated in most states. But my time estimates are going out the door, due to state budget cutbacks, and staff layoffs. Now is NOT the time to delay getting your incorporation done! read more...

I’m taking a slight departure from my usual blogs about tax strategies and asset protection today. I had the privilege to be the keynote speaker at the 2009 CEO Summit in Dallas, TX last month. Every CEO had to make $5 mill + per year to be in the room. I learned more from these ...

Finally! Some good news for small business owners when it comes to taxes. A bill passed into law last Friday (November 6, 2009) added some nice tax planning opportunities If you have a net operating loss in 2009 for your business, you can carry that loss back five years. When you carry that loss back ...