Part 3: Tax Planning for Real Estate Investors: Understanding Depreciation and Recapture
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
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Recent blogs
Defining Material Participation
If you haven’t looked at last week’s blog (“Reclassifying Non-Passive Income”), we suggest you do that first. Last week, we focused on classifying activities as
Reclassifying Non-Passive Income
One strategy regarding income recharacterization is to shift non-passive income to passive income. Non-passive income is any income earned actively by the taxpayer: wages, salaries,
2020 Tax Update for the Tax Planner – Part 2
This is our second posting on the topic, so please check out Thursday’s blog, if you missed it. There have been so many tax changes
2020 Tax Update for the Tax Planner – Part 1
There have been so many tax changes this year! As you might expect, it is difficult to cover them all. We’ll try to highlight a
New Rules on “Covered Period” – Why is timing so important?
This post is focused on timing. Why is timing so important? From a tax-saving standpoint, not every dollar of deduction is worth the same amount
PPP Forgiveness
Although the focus of this post is PPP forgiveness, the loan itself is a great deal. The payment terms are phenomenal, and it can be
Forget about “Simple.” It’s VALUE that counts.
Here is a common misconception: if a task is simple, it isn’t valuable. Don’t take this misconception lightly, as it can have huge implications regarding
Tax Carryovers: Do Statutes of Limitations Force You to Live with Your Mistakes?
We have previously discussed the statute of limitations regarding tax audits when the taxpayer applies a net operating loss (NOL) to a year that is before
Corporate Refund Claims With Minimum Tax Credit Perplex IRS
Corporations have been receiving refunds from carrying back net operating losses, but those taxpayers with alternative minimum tax implications in that carryback year might need
Payroll Tax Deferral for Federal Employees Prompts Criticism
A government notice indicating that President Trump’s temporary payroll tax deferral will go into effect for federal employees sparked alarm from observers, who say the