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
Category: Business Strategies
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Meet Your Local PVA!
Somewhere within your county, likely at this very moment, a Property Valuation Assessor (PVA) is determining the value of a
Real Property Tax Basics
Property tax is one of our country’s oldest taxes; it was even established prior to federal income tax. As far
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
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.
Forgivable Expenses
Good news on forgivable expenses! There is a lot more that is eligible for forgiveness, and not just for new
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
PPP Forgiveness
Although the focus of this post is PPP forgiveness, the loan itself is a great deal. The payment terms are
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
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
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