Tax and Legal Educational Articles
Last Minute Tax Strategies Before Filing
There are several HOT deductions that many taxpayers don’t consider and just ‘leave money on the table’. Here are 6 under utilized write-offs that in my opinion should be a healthy line item on any legitimate small business tax return:
How Short-Term Rentals are Taxed
More and more real estate investors are adding ‘short-term rental’ properties to their portfolios and with a lot of success. However, many still have questions about where to place them in their tax and legal structure.
How Many Properties Should I Put in My LLC?
I truly believe that an LLC for every rental property isn’t needed for the far majority of real estate investors. It’s expensive, cumbersome and provides nominal benefit when there’s not a lot of equity in their rentals….yet!!
How Much Should I Send in with my April 18th Extension?
But what if you STILL owe taxes for whatever reason and the May 17th deadline is really concerning you? Here’s what you need to do in order to minimize any penalties and interest.
What to do if You Can’t Pay Your Taxes by April 18th
Don’t let your inability to pay your tax liability in full keep you from filing your tax return properly and on time. If you don’t file your Extension, it only makes things worse.
5 Hot Tax Deductions for Your Business before Filing in 2022
I truly believe that far too many business owners, CPAs and Tax Preparers are overly conservative and miss out on important expenses that we are entitled to.
The Charitable Remainder Trust and Cryptocurrency
The CRT is a very powerful estate planning tool that may enable you to reduce your liability for income and estate taxes, protect your assets AND diversify your assets in a tax-advantaged manner.
The Truth about the Home Office Deduction
There are several strategies on how to maximize the write-off and make sure you stay in good graces with the IRS as well as saving the maximum amount in taxes
1099 Rules for Business Owners in 2022
Businesses will now file Form 1099-NEC for each person in the course of the payor’s business to whom they paid at least $600 during the year. This payment would have been for services performed by a person or company who IS NOT the payor’s employee.