Publications – Page 2 – Strategic Tax Advisors – STA

Asset Protection: NOW…not later

Posted on June 15, 2019 by W. Wade

Asset Protection: NOW…not later An important business strategy is protecting business assets by creating an asset protection plan. Assets that need to be protected include: personal residence, business and investment real estate, bank accounts, retirement accounts, marketable securities, machinery, and business or personal vehicles. The more liquid an asset, the more attractive an asset can

Posted in Asset Protection

Deduct What You Love, With Hobby Losses

Posted on May 21, 2019 by K. Zak

Deduct What You Love, With Hobby Losses A hobby is a regular activity done for enjoyment at leisure. STA is often asked; “Can I deduct my hobby losses?” When an activity is not pursued for profit, limited “hobby loss” deductions are allowable under section 183(b) of the Internal Revenue Code.[1] When calculating deductions, losses incurred

Posted in Tax Deduction

Just Trust Me

Posted on March 7, 2019 by K. Zak

Just Trust Me A trust is an agreement where you manage property to benefit someone else. In practice, a trust is a ten-dollar-to-fund strategy to transfer property to people you like while keeping it far away from the people you hate. To break down the “trust,” please embark on a magical school-bus tour through its

Posted in Trusts

Internet Sales Tax

Posted on March 5, 2019 by K. Zak

Internet Sales Tax In South Dakota, v. Wayfair, Inc., the Supreme Court of the United States overruled the physical presence requirement established in Quill Corp. v. North Dakota (1992) and National Bellas Hess, Inc. v. Department of Revenue of Illinois (1967).[1] The Wayfair case represents a historic change because it overturns 52 years of precedent;

Posted in Internet Tax

End of Year Tax 2018 Tax Tips

Posted on December 20, 2018 by W. Wade

End of Year Tax 2018 Tax Tips Before December 31, 2018… Taxpayers and Business Owners can take some steps today to maximize their tax benefits and minimize their taxable income: Year End Bonus: Earnings are taxable in the year received; therefore, if taxable income in the 2018 year will be abnormally high, it could prove

Posted in Tax Deduction, Tax Reduction, Tax Return