How to Protect Your Gambling Winnings from the IRS

Your gambling income is taxable. And—just as important—it’s reportable. The good news is that you can offset your gambling winnings with your gambling losses provided you keep good proof of…

A Detailed Analysis of Puerto Rico’s Tax Incentive Programs

Buying a Business with Co-Owners? You Need a Buy-Sell Agreement!

Heavy Vehicle + Deductible Home Office = Major Tax Savings

You can reap major tax savings with the heavy vehicle and home-office combo. The heavy vehicle produces quick deductions. The home office that qualifies as a principal office eliminates commuting…

Selling to a Related Party Can Kill Your Tax Losses

Arguing with the IRS: You Need Tax Authority

Changes to Puerto Rico’s Act 20 and Act 22

By Christian Reeves On July 11, 2017, major changes to Puerto Rico’s Act 20 and 22 were approved. These changes make it much easier to qualify for Puerto Rico’s Act…

Beat the Recapture Tax on Your Home Office

Due Diligence Is Critical to Buying a Business

Buy Your Employees (and Yourself) Flowers and Fruit, and Deduct the Cost  

Under the de minimis fringe benefit rules, your business deducts the cost of giving you or your employees flowers, fruit, books, and similar property under special circumstances. The recipients—you or…