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Sandy Botkin

News You Can Use: October 2019

1Submitting foreign documents in court to substantiate a tax break must be in English or must be translated. A Canadian couple who lived in the U.S. and who sold a home in Montreal, had documents showing their cost basis, which is used to computer gain or loss. However, these documents were in French. The Tax...Read More

The 20% Qualified Income Deduction

Do you have income from any rental properties that you own? If so, you may be eligible for a juicy tax break: The 20% qualified income deduction. Subject to some rules, self employed and owners of S Corps and partnerships and LLCs can write off 20% of their qualified business income. This means that you...Read More

Sandy’s “Taxi” Thoughts

A cab driver taught me a million dollar lesson in customer satisfaction and expectation that I wanted to share with you as my thought for the week.. Motivational speakers and business consultants charge thousands of dollars to impart his kind of training to corporate executives and staff. It cost me a $12 taxi ride. As...Read More

Grand Kids & Tuition

I love having grandchildren. I even love having a grand dog! If I knew I would love having grandchildren this much, I would have bypassed the kid stage. Only kidding, kids. If you feel like me, you might want to help your grandchildren with college or graduate school. Here are a few smart tax saving...Read More

The Timeshare Exit Scam

Michael and Lynn (whose names were changed for privacy) bought a timeshare for $40,000 a number of years ago. Their maintenance fee was $2,000 per year.  They got a call, supposedly from Wyndham resorts alerting them that timeshare policies have changed a lot and invited them to a free seminar. They were promised a dinner...Read More