It may have been said that someone can have too much “salt” in their diet and a restriction is the best medical step for recovery or prevention of diseases. However, in tax planning, a restriction on SALT is one of the biggest hits to taxpayers. In tax planning, SALT actually refers to “State and LocalContinue reading Too Much SALT? Never in Tax Planning
The State and Local Tax (SALT) deductions have a cap of $10,000. We want to teach you how to leverage both your C Corp and a land trust in order to beat that cap. Keep in mind, a “C Corporation” causes double taxation for business owners. Because of this, most people avoid it like theContinue reading Leveraging a C Corp and a Land Trust to Beat S.A.L.T
Currently there are seven tax brackets ranging from 10% to 37%. The dollar amounts that define these brackets change depending on varying factors. These factors include whether or not you are a single filer – or are you married? Filing jointly or separately? Are you the head of your household? The brackets vary depending onContinue reading Tax Brackets
It is so important to understand the ins-and-outs of tax codes. The tax code for The United States is known as a Progressive Tax Code. This means you’re taxed on the money you make at a certain rate based on the amount of money you make. Let’s talk about income tax. Income Tax is theContinue reading Tax Codes: The Fundamentals
Allow us to introduce ourselves! Hi, we’re BollitProof and Unveiled. We’re not your regular, run-of-the-mill educational organization. Typically with the educational industry, they want to come in and sell you a product. Once that happens, they feel their job is done – they’re out. That’s not our intention. Have you ever heard of the JapaneseContinue reading BollitProof and Unveiled Introduction
When you hear the word “trust” how does it make you feel? Do you get a little nervous and start questioning the intricacies of this complex topic? Well, I’m here to tell you, it’s not as complicated of a concept as you might think. Let me break it down for you. There are three partiesContinue reading Three Parties To A Trust
If you’ve ever looked at a trust document, you probably have seen the terms “revocable” and “irrevocable” trusts. Just so you know, 100% of trusts are either revocable or irrevocable. So what do they mean? Quite simply put, a revocable trust is a changeable trust. it’s easy to dissolve and move assets in and outContinue reading Revocable VS Irrevocable
I’m going to paint a picture for you. You’re meeting with an attorney who turned over a trust document to you and you’re overwhelmed. You’re met with all these big legal words that make zero sense to you. I’m talking words like “grantor,” “non-grantor,” “irrevocable”… Seeing all these confusing terms, well, that can be aContinue reading Three Types of Trusts
I get asked about captive insurance companies all the time. This can be a great option to add to your practice if done the right way. So let’s start off with a quick overview. First, a captive is a property and casualty insurance company. Think of it as your own personal State Farm. Let’s justContinue reading Captive Insurance
I want to talk to you about how cost segregation studies can help you in your business. But, before we get into this, I want to backtrack a bit. Let’s talk about depreciation. Simply put, depreciation is the “useful life” of something. Just about everything can be depreciated: computers, furniture, cars, rental properties, and soContinue reading Cost Segregation Study
