Simplifying Business Travel Expenses: 12 Essential Answers for Tax Debt and Preparation
Are you a business owner who frequently travels for work? If so, you may have encountered the challenge of proving your expenses for tax...
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Peter Ellefson
- Aug 2
- 3 min
Avoid an IRS Audit: The Critical Importance of Keeping a Reliable Mileage Log
Quick run through on your best ways to maximize Mileage Deductions for your Taxes!
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Peter Ellefson
- Jul 31
- 2 min
Unlocking Rental Property Secrets: Your Guide to Tax-Savvy Profits!
*Introduction* So you're thinking of investing in a rental property? It's a great way to generate passive income and build wealth. But,...
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Peter Ellefson
- Jul 7, 2022
- 2 min
IRS increases mileage rate for remainder of 2022
The Internal Revenue Service announced an increase in the standard mileage rate for the final 6 months of 2022. Taxpayers may use the...
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Peter Ellefson
- Jul 5, 2022
- 2 min
Are you Still waiting on your tax refund?
The IRS still needs to process more than 21 million paper tax returns, delaying refunds for many Americans as the agency struggles to...
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Peter Ellefson
- Jul 1, 2022
- 3 min
Top 10 places to live In Arizona in 2022
Here are the Top 10 best places to live in Arizona, based on public voting for the 2022. This is based purely on opinion. 1. Town of...
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Peter Ellefson
- Jun 29, 2022
- 2 min
Is the Housing Market Going to Crash?
The Federal Reserve’s 75-basis-point rate hike has put eyes back on real estate with hopes it will be enough to cool a surging housing...
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Peter Ellefson
- Jun 28, 2022
- 1 min
Legacy Industrial Park coming to Mesa
Phoenix businessman William Levine’s company Pacific Proving LLC bought 1,800 acres from GM in 2004, two years before Scottsdale-based...
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Peter Ellefson
- Jun 27, 2022
- 1 min
Lumber prices are falling when will we see the savings?
Lumber prices slipped deeper into a slumber this week. The price of lumber dropped as low as $660 per thousand board feet on Friday. The...
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Peter Ellefson
- Jun 21, 2022
- 2 min
Standard Mileage Rate v Actual Expenses for Business Expenses
To write off the cost of driving for work, you can apply the IRS per-mile write-off to the number of miles you put in or deduct part of...
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Peter Ellefson
- Jun 20, 2022
- 6 min
Defining “Real Estate Investor” and “Real Estate Dealer”
The first good news is that you can be both real estate investor and real estate dealer with respect to your real estate portfolio. Let’s...
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Peter Ellefson
- Jun 19, 2022
- 2 min
Tax-Deductible Cruise Ship Travel
Did you know taking a cruise ship to Mexico for a business meeting is acceptable as a deductible form of transportation? Because Mexico...
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Peter Ellefson
- Jun 18, 2022
- 5 min
The IRS Wants to Know about Your Crypto
The IRS really wants to know about your bitcoins and other crypto.
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Peter Ellefson
- Jun 17, 2022
- 3 min
Increase Your Tax Deductions Using the Business-Mileage Rule
We absolutely, positively don’t like commuting mileage. You should dislike it, too. It’s personal. It’s not deductible. But with...
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Peter Ellefson
- Jun 16, 2022
- 10 min
All About Limited Liability Companies (LLCs)
Limited liability companies (LLCs) are a popular choice of entity for small businesses and investment activities. Reason. LLCs have legal...
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Peter Ellefson
- Jun 15, 2022
- 2 min
What is Deflation?
When you notice prices dropping at your favorite stores it’s generally thought of as a good thing, and normally it is. When prices start...
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