Daddy’s Little Tax Deduction
by John Hyre, Tax Attorney, Accountant, Investor

Keeping your tax bill low is a war of details. There is no magical silver bullet that holds the IRS at bay. Rather, the tax code lets us cut a little here and a little there. It’s all in the details. Such “details” include your children. There are lots of ways to use the little darlings (I use the term loosely and obviously am not referring to teenagers!) to cut your tax bill. This article will focus on how to hire minor children in your business.

This is just the basics. I don’t want to write a summary of 500,000 pages of federal income tax law, and you certainly don’t want to read it. The idea here is to give you an idea of how the system operates. Armed with a basic understanding of the law, tax planning ideas make more sense. Information that makes sense is more likely to be used in real life. 

Choice of Entity 101
by John Hyre, Tax Attorney, Accountant, Investor

One of the most common questions that real estate investors ask is:  Which entity should I use?  The correct answer usually depends on a large number of details…the exact nature and size of the business, the investor’s source and type of income, the number of family members, etc.  This article will set out some general rules for picking a structure.  Your mileage may vary based on your own personal facts and circumstances. 

You "Dealing"?
by John Hyre, Tax Attorney, Accountant, Investor

Why is being classified as a Dealer important? 
What makes one a Dealer instead of an Investor?