Sandy Botkin

Sandy is a CPA, Tax Attorney, and former IRS trainer. He has authored many helpful books on the subject of taxes, including 7 Simple Ways to Legally Avoid Paying Taxes ( Click Here ), Lower Your Taxes: Big Time ( Click Here ), and Real Estate Tax Secrets of the Rich ( Click Here ).

Higher Income Tax Breaks

Are you a high income earner earning in excess of $500.000 per year? Ever wonder how you can cut your taxes on this much income? Here is an interesting yet little known change in the tax law. Normally, if you donate cash to a public charity, you can deduct the contribution up to 60% of …

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Get a decent refund? Here are some tips on putting that money to work for you.

You just got a nice refund from the IRS and probably go some sort of stimulus. So what is the best recommendations that you should do with this money. I will be publishing two per day this week. So keep reading and come back each day: Shore Up Your Emergency Fund Even if you’re working …

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Making Capital Gains Taxes Disappear on a Profitable Home Sale

Possibly one of the biggest tax breaks on the books is for the sale of a principal residence. Gains of up to $500,000 ($250,000 for single filers and married filing separately) are tax-free. Even better, homeowners can “recycle” this generous break every two years.  NOTE: The exclusion doesn’t apply to any depreciation taken after May …

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5 Tips for a Gig Economy

Are you an independent contractor? Have a side hustle? As with all workers, you pay taxes on earnings after you take offsetting deductions. Here are 5 tax tips that could help you avoid problems and maximize available tax breaks: 1Don’t hide taxable income: While it is very compelling to hide some of your income, don’t …

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More Money for You Under the Recovery Rebate Credit

I would bet that you haven’t heard of this before. The new Coronavirus law allows eligible employers, including self-employed contractors and other independent contractors who have employees to receive a nice 50% payroll tax credit up to $5,000 per employee (50% of $10,000 in wages) paid after March 12, 2020 and before January 1, 2021.  …

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