Rules for Foreigners Investing in Rental Property in the U.S.
The U.S. tax rules that apply to ownership and dispositions of U.S. real estate by foreign persons are different in some important respects from the rules that apply to U.S. persons. Also, property managers are under special rules when managing property for foreign owners, and sellers to foreign investors can be classified as withholding agents (which have important obligations and liabilities associated with the classification).
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.
Practical Checkbook Procedures for your Business to Succeed
As we have been working through tax returns for clients this tax season, it’s alarming to see how many clients aren’t maintaining their checkbook properly, or not even having a separate checkbook at all for each of the companies they own and operate.
How to Write-Off Your Technology Expenses and Cell Phone
When it comes to these ever increasing expenses and strategies to make us more successful in our business, we should be looking for ways to deduct them.
Entrepreneur Steps Before Quitting Your Day Job
You may think your new business and idea needs 100% of your attention and time…however, what your business really needs more than your time is YOUR financial stability.
Using a 10 Year Plan in your Business
All too often I meet with clients that have grand ideas for investing or other business projects for cash flow, but they don’t have a thorough and sensible plan to get there. I have learned time and time again, that a 10-Year Plan is critical to set the path for the business and then build […]
The Most Common IRS Penalties and How to Avoid Them
There are three (3) common IRS penalties that hit individual taxpayers the most. They can easily be avoided with a little planning. Listen…paying taxes is difficult enough, don’t add insult to injury by having to pay penalties and interest on top of income taxes. The IRS penalties ALONG WITH interest can add up quickly. It […]
How a Small Business Saves Taxes and Builds True Wealth
I’m not proposing setting up any sort of business to simply lose money for tax write-offs, but to build a business that allows you to make more money, and save taxes by writing things off you wouldn’t otherwise be able to.
How to Write-off Your Travel Expenses
Making sure our travel has a ‘business purpose’ is critical and a perfect opportunity for business owners for a great tax write-off.