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 ).

You probably never thought of these as Qualifying Medical Expenses

Items that I would bet most of you never thought of as qualifying medical expenses: Medical expenses to be deductible normally must exceed 7.5% of your adjusted gross income. However, if you are self employed or are an independent contractor, you might be able to deduct qualified medical expenses as a business expense and avoid …

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It’s Not There Yet… But the New COVID Relief Could Mean to You

What you should know about the new stimulus bill passed by Congress? 1Although it hasn’t been signed yet by President Trump – it is expected to be approved by him. 2There is a renewal of the PPP loans. If you weren’t fast enough to get your PPP loan (if you were either an independent contractor …

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What does the potential elimination of the A.C.A. mean to you?

Many of us don’t like the current state of the health insurance market. Let’s face it, health insurance is just too damn expensive and has high deductibles and stop losses. It is also hard on business, which is why many Republicans want to see the Affordable Healthcare Act (A.C.A., also known as Obamacare) eliminated by …

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Take This Post as a Threat!

With many of us working from home cybersecurity threats have substantially increased. So what are the top threats… Ransomware is where hackers infiltrate a network or even your one computer finding valuable data and lock it up – demanding a ransom to get it back. Even worse, hackers are more likely to copy and leak …

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If you follow the CDC Guidelines: Your landlord can’t evict you.

The CDC just gave an order that bars residential landlords from evicting tenants for non-payment of rent if a tenant’s estimated 2020 income is no more than $99,000 (single) or $198,000 (married, filing jointly). Some states also have this order in place too. (California has an eviction moratorium till February 1 2021.) However despite this …

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News You Can Use: October 2020

1While you can no longer get the dischargeable PPP loan you still can apply to the SBA and get up to $150,000 low interest loan for your business. Just go on the SBA’s website to check it out. 2Most expenses related to PPP loans are NOT deductible: Getting a dischargeable PPP loan is a good …

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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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