Important tax election for investment land

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A section 266 election can save you serious tax dollars, but you have to file the election by the due date, including extensions, of your annual income tax return. It's not complicated, but many CPAs do not know about it and others don't bother with it because it may involve tax planning over a period of years. I wrote this article for Physicians' Money Digest last week (and forgot to share here) after reviewing the tax return for a dual-doctor couple who became clients through WCI and realizing they could benefit from it.

A Simple Change to Your Tax Return Could Save You Big Bucks