5 Critical Questions to Ask Your Accountant About Tax Planning BEFORE Tax Season
Do you feel that you pay too much in tax? You’re not alone. The General Accounting Office estimates that Americans over-pay their taxes by almost
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Making Money from Rental Properties: Tax Planning for Your Real Estate Investments
Once you take the step of converting a residence to a rental property, the tax planning process is far from over! Wise investors also need
Turning Your Residence into Rental Property: Tax Planning for Your Real Estate Investments
Real estate is an attractive investment opportunity, but investors need to be prepared for potential taxes to truly maximize their profits. The way you are
How Does the Pass-Through Entity Tax Work?
One of the most controversial measures from the Tax Cuts and Jobs Acts (TCJA) of 2018 was the new limitation on state and local tax
Hitting the Limit on State and Local Tax Deductions? Consider These Three Workarounds
Among its many changes, the Tax Cuts and Jobs Act of 2018 introduced a new limitation on state and local tax (SALT) deductions. The new
The Four Types of 1031 Real Property Exchanges: How to Make This Tax Deferral Strategy Work for You
Real estate can be a profitable investment, but once the investor is ready to sell, they also have to be ready to take a hit
Parting Ways on Property Investments: How Partnerships Can Leverage the 1031 Exchange
In our last blog, we discussed the benefits of the 1031 exchange. This IRS rule allows property owners to delay paying capital gains taxes if
You Can’t Avoid Tax, but You Can Defer It: How Property Owners Can Leverage the 1031 Exchange
If you own a business or investment property, deciding when to sell it can be complicated, in part because of the hefty taxes you will
FAQs about the New Beneficial Ownership Information Reporting Requirement
The new year means new small business regulations—courtesy of the Corporate Transparency Act. Starting on January 1st, 2024, many small businesses now need to submit
Are You Ready for the New Beneficial Ownership Information Reporting Requirement?
As the new year begins, small business owners are likely focused on coming out of the gate strong, ready to tackle new revenue goals or
How Exporting Goods Can Lead to Tax Savings: Setting Up an IC-DISC
Are you an exporter? If any of the products that you manufacture, produce, grow, or extract in the U.S. are sold in other countries, you