Recover taxes paid on income you had to return later.
If you paid tax on income (bonus, commission, settlement, royalty) in prior year and had to repay it later, §1341 lets you choose the greater tax benefit of: (a) deducting the repayment in current year, or (b) recomputing prior-year tax as if you never received the income and taking that as a credit. Often missed on clawbacks and rescinded transactions.
Click Generate advisory deep dive for mechanics, IRC citations, a step-by-step execution plan, a worked numeric example on your profile, costs, risks, and this-week actions.
Front-load depreciation on real estate to slash current-year taxes.
Turn W-2 income into tax-free passive rental losses.
Defer capital gains indefinitely by rolling into bigger real estate.
Defer + eliminate capital gains via OZ funds.
Rent your home to your business up to 14 days/year — tax-free.
Deduct 20% of pass-through business income.
Slash self-employment tax on profits above ~$50K.
Expense equipment, vehicles, and property in year one.