Each taxpayer can only have one primary residence at a time. However, if a married couple can prove that they lived in separate homes, a couple can have two primary residences, as discussed in this vidcast.
Archive for the ‘video’ Category
Selling Two Residences
Posted by taxguru on December 17, 2009
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Screwing with the IRS
Posted by taxguru on December 13, 2009
Last week’s episode of Nip/Tuck had an encounter between one of the plastic surgeons and an IRS auditor unlike any I have have ever seen or heard of. It’s wacky enough to amuse taxpayers, tax pros, and IRS employees.
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Click here if the embedded player doesn’t work for you.
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Think ahead when setting up corp
Posted by taxguru on December 11, 2009
If the future plans for a business include taking it public or bringing in venture capitalist funding, those will materially affect the most appropriate entity to use, usually ruling out an S corp, as I discuss in this vidcast.
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Taxes Paid In vs. Taxes Owed
Posted by taxguru on November 29, 2009
Tax planning and ensuring that you have enough paid in to avoid penalties has never been crazier. The Feds have reduced withholdings and given rebates to encourage spending in the economy; while the geniuses in Sacramento are trying to force California taxpayers to intentionally overpay their withholdings as an interest free loan to Governor Arnold and his fellow idiots in control of that sinking state.
That’s the subject of this vidcast.
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Investing retirement funds into C corp
Posted by taxguru on November 23, 2009
Q:
Tax Guru
In 2005 you recommended the use of the BeneTrends rainmaker plan for using your 401k funds to finance a company. Have you had anymore experience with them in the last four years? I am thinking of using them, but am worried that there may be some problems with the IRS.
Any help you might give would be appreciated.
Best Regards,
A:
I haven’t heard of any problems with the BeneTrends program, and in act I am still recommending it, as in this recent vidcast.
Good luck.
Kerry Kerstetter
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Using Multiple Entities – Vidcast
Posted by taxguru on November 22, 2009
Using multiple entities for tax, liability, and other business reasons has been a very common and useful strategy for longer than I’ve been in this business. Why many tax pros are unaware or unwilling to recommend them is still surprising to me.
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Sec. 179 On Converted Assets – Vidcast
Posted by taxguru on November 18, 2009
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Sec. 179 For Yachts?
Posted by taxguru on November 10, 2009
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Advice For New CPA – VidCast
Posted by taxguru on November 9, 2009
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Maximum Sec. 179 For Vehicles – VidCast
Posted by taxguru on November 8, 2009
It’s not a cut and dried answer as to the maximum that can be claimed, as I explain in this vidcast Q&A.
If the embedded player doesn’t work, you can access the video directly on YouTube.
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Tax Guru - Ker$tetter Letter 