By Jason Ackerman, CPA, CFP®, CGMA and Co-Founder of Wealth Rabbit Taxes can feel overwhelming, especially for small business owners—but they don’t have to be. Whether you’re running a small business, freelancing, or managing an LLC, understanding and using the right tax deductions can make a big impact on how much you owe. By knowing what […]
The Tax Advantages Most Small Business Owners Miss Read More »
When you enter the world of real estate investments, you are also entering a world of complicated tax laws. Fortunately, these nuanced rules include special tax breaks that apply just to real property. For instance, a major benefit available to property owners is the option to take a depreciation deduction. Depreciation refers to the fact
How to Save Taxes on Your Real Estate Investment: Handling Depreciation and Recapture Read More »
As a real estate investor, your tax saving strategies may depend on how you are holding those properties. Do you own the property as an individual? Are you holding it in a C corporation or S corporation? Or do you have a partnership where the partners are making different financial contributions to purchase a property?
So you want to get into real estate investing? The good news is you don’t need to be a pro to get started. Opportunities abound for new investors looking to get experience and work toward increasing their wealth. You don’t need to be a millionaire to take advantage of these investments. You just need some
How to Save Taxes on Your Real Estate Investment: When REIT is the Right Choice Read More »
Real estate investment may sound like an arena for moguls and multimillionaires, but the reality is that you don’t need to be a real estate professional and you don’t need millions of dollars to get started. These days, there are plenty of markets across the country that allow you to dabble in investing even as
How to Save Taxes on Your Real Estate Investment: The Importance of Choosing a Structure Read More »
Budding real estate investors may not realize that their tax bill could be dramatically impacted by their decision on how to hold their properties. Whether they’ve created a C corporation, a pass-through entity, or simply own the property as an individual, each set up comes with its own limitations and its own tax reduction opportunities.
When working with clients on real estate investments, you will need to prepare them for a higher level of tax complexity. This might mean encouraging them to think farther ahead than they are inclined to, considering how long they see themselves holding onto a property and when they might want to sell it. New investors
Part 3: Tax Planning for Real Estate Investors: Understanding Depreciation and Recapture Read More »
Working with clients who are getting into real estate investing can be an optimal situation for you both. These clients need a seasoned tax professional who can advise on how to reduce taxes on their investment income. As a tax professional, it’s always a good thing when your clients are making more money and therefore
Part 2: Tax Planning for Real Estate Investors: When to recommend a REIT Read More »
For tax planners, taxpayers venturing into the world of investment can make great clients. Investing can be lucrative but also introduces new complexities to your tax plan—and that is where you can offer much-needed wisdom and support. This can especially be true for clients interested in real estate investment. Though a taxpayer does not need
Part 1: Tax Planning for Real Estate Investors: Choosing the Right Structure Read More »