by CPA | Jul 21, 2020 | Taxes
In the midst of the coronavirus, the Internal Revenue Service (IRS) extended the due date for 2019 federal tax returns from April 15 to July 15, 2020, but if you need even more time, you can request an extension until October 15, 2020. Here’s what you need to...
by CPA | Jun 19, 2020 | Real Estate CPA, Rental Real Estate CPA
Owning rental properties can be a lucrative way to make money from the housing market and set yourself up for retirement, but to be successful, you need to pay attention to the numbers. With the right tips, real estate accounting can be relatively simple. Check out...
by CPA | Nov 8, 2018 | Real Estate CPA, Rental Real Estate CPA
More families will be able to get more money under the newly-revised Child Tax Credit, according to the Internal Revenue Service. The Tax Cuts and Jobs Act (TCJA), the tax reform legislation passed in December 2017, doubled the maximum Child Tax Credit, boosted income...
by CPA | Oct 25, 2018 | CPA Services, Real Estate CPA
The Tax Cuts and Jobs Act was signed into law on December 22nd, 2017. It overhauled the Internal Revenue Code and provided broad tax relief to workers, families and businesses of all sizes. It lowers tax rates for individual and business taxpayers, and eliminates or...
by CPA | Oct 18, 2018 | CPA Services, Real Estate CPA, Rental Real Estate CPA
According to the CPA Journal, Home sellers can exclude (not defer) up to $250,000 of housing profits from capital gains tax; married couples who file a joint tax return can exclude up to $500,000 of housing gains. In the case of a married couple, either or both...
by CPA | Jun 18, 2018 | Real Estate CPA, Rental Real Estate CPA
Let’s face it. Unless you love the nitty-gritty details of accounting, you probably don’t enjoy the bookkeeping part of your real estate business. If you are like most people, then you put it off until the last possible moment. Maybe that time comes when your lender...
by CPA | Jun 13, 2018 | Real Estate CPA
Do you own an investment property valued at $1,000,000 or more? Do you pay federal income taxes? Do you operate a corporation or entity that is for-profit? Are you planning to the hold the property for more than one year? If you answered YES to all of these questions,...
by CPA | Nov 16, 2017 | Self-directed IRA
Self-Directed IRAs, Checkbook-Control IRAs, and IRA-LLCs are powerful investment vehicles with great tax benefits. For those that qualify, Solo 401K Plans are far better vehicles for retirement account real estate investing. In this post will introduce the...
by CPA | Oct 3, 2017 | Self-directed IRA
Tax Free Real Estate Investing With Self-Directed Retirement Accounts Did you know that you can use a Traditional IRA and Roth IRA to invest in real estate tax free? Do you know the difference between a Traditional IRA and Roth IRA? In this post you’ll get an overview...
by CPA | Sep 12, 2017 | Real Estate CPA, Rental Real Estate CPA
Investments in vacation rentals are becoming more popular with the rise of services such as Airbnb and VRBO. Many investors have successfully purchased and rented these properties all over the U.S. In our sharing economy, it is a wonderful way of earning top dollar....
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