Wisconsin Lets Couples File Separately Federally, Jointly Statewise
I was today years old when I learned there is a state out there that allows you to file separately at the federal level and jointly at the state level. Thanks, Wisconsin. Your married physicians seeking PSLF really appreciate you. #TaxTwitter
Gift Business Shares to Cut Estate Tax Liability
Entrepreneurs whose businesses grow substantially over time can end up with an asset worth many millions of dollars, creating a potential 'problem' of exceeding the estate tax exemption amount. https://t.co/15oEYyCXLW In this guest post, Anna Pfaehler, CFP, AEP, a Partner and Wealth...
Proper Asset Location Adds 0.30% After‑Tax Return
Vanguard's research showed that you could add 0.30% of annual after-tax returns simply by having a correct asset location strategy: - avoid bonds in brokerage. Keep them in retirement accounts - growth assets in Roth - efficient ETFs in brokerage - avoid REITs in...
Gig Work Is Flexible, Taxes Are Complicated
Gig work is flexible. Gig taxes? Not so much. No 1099 doesn’t mean no reporting—and some new deductions sound great… until you realize there are rules attached. It’s one of those “simple until it’s not” situations. Here’s what to know: https://t.co/BXKJJZUpEQ
Turn Income Into Active Rentals, Escape Tax Penalties
Most high earners think they have a tax problem. They actually have a strategy problem. The tax code does not punish you for earning a lot. It punishes you for earning a lot and doing nothing with it. The moment you buy a cash-flowing...
Backdoor Roth Bypasses Income Limits
One of the dumbest loopholes in the US tax code The IRS says if I make more than $168K filing single or $252K married filing jointly in 2026 I cannot contribute directly to a Roth IRA But I can still get funds inside...
Cost Seg Studies Save Taxes—Only If Passive Limits Allow
You own rental property and you've never done a cost seg study. that means you're depreciating everything over 27.5 years. same recovery period as the building itself. BUT. We can always go back to grab that tax savings but here's what nobody...
Overstating Charitable Deductions Can Trigger 40% Penalty
If your charitable donation is worth $2 million, you probably shouldn’t try to take a $180 million deduction. Otherwise, as Hancock County Land Acquisitions discovered in Tax Court, you could face a 40% gross valuation misstatement penalty. https://t.co/o1C0zoX0lj
Married Filing Separately Doubles SALT Deduction for High Earners
Just the most jackass MFS that I've had to do. Couple lives in TX. They have about $600k in AGI, so they're capped at $10k in SALT MFJ. Their SALT is about $20k. By filing separately, they each get the full $10k...
Tax Attorney Secures AI Startup Deal via QSBS Strategy
Today I spoke with two founders who launched an AI powered consulting business that builds industry adjacent applications and software. Q1 Revenue: $300K Why did they want to speak with me? I am a tax attorney and they were referred...
Wealthy Use Secret Asset to Safeguard Money
Selling my company for 7 figures taught me exactly how wealthy people protect their money. It's not gold. It's not crypto. It's not index funds. It's something most W-2 earners have never heard of… Here's exactly what they do (& how you can copy them):
Refinance Cash‑flowing Properties for Tax‑free Deal Funding
I NEVER sell a property that cash flows. The move is to refinance. Get an appraisal on the new value. Take a loan at 80% of that number. Pay off the old debt. Keep the difference. That cash is tax-free. You can use it...
Turn High Income Into Tax‑Free Real Estate Income
A high income = a big tax bill. A high income + real estate = a big tax bill + an asset. A high income + real estate + the STR loophole = no tax bill + an asset that pays you. Yet...
Most Misuse This Tax Strategy's Hidden Power
Too many people misunderstand and misuse this tax strategy when it’s way more powerful than you think 💪🏽