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 | 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 | Aug 4, 2017 | CPA Services, Real Estate CPA, Rental Real Estate CPA
According to the IRS, homeowners may qualify to exclude from their income all or part of any gain from the sale of their main home. Taxpayers can exclude up to $250,000 ($500,000 Married Filing Jointly) of gain on the sale of a homeThis is known as the Section 121...
by CPA | Jun 20, 2017 | CPA Services, Real Estate CPA
You filed your tax return and then discovered a mistake. Now what? Don’t hit the panic button. In most cases, all you have to do is file an amended tax return. There are a few things to keep in mind when filing an amended tax return. Taxpayers should use Form...
by CPA | Sep 1, 2016 | Rental Real Estate CPA
Maybe it starts with a leaky ceiling. Or perhaps a leaky faucet. Sometimes, you simply notice that the walls could use a another coat of paint. Home improvement for your rental real estate investment is inevitable. At some point, your property will require...
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