For my last blog post of the year, I would like to wish all of my friends and colleagues the Happiest of Holidays and a prosperous new year. I am grateful for the opportunity to serve and help those of you that consider me a trusted business partner of yours whether it be your business […]
Real Estate
Are You Tracking Absolutely All of Your Tax-Related Business Expenses?
Not sure what expenses to track or what you can deduct for your new business? If you’re self-employed, understanding what’s deductible and recording all of your business expenses should be priorities. When you work for yourself, accurate accounting is critical. The IRS pays special attention to tax returns prepared by sole proprietors. Not only does […]
Real Estate’s on a Roll. Will It Continue?
Anyone looking to buy or sell a home lately has probably been hit by sticker shock. Residential real estate prices have gone through the roof, increasing at rates unseen since 2005. According to S&P Case-Shiller, home prices in March saw their highest annual rate of growth in over 15 years — up 13.2% from a […]
Avoiding Capital Gains Taxes with a 1031 Exchange
Savvy investors can build wealth by deferring capital gains taxes via a 1031 exchange. Learn how it works and how it can help you as a real estate investor. For the in-depth information required to execute a 1031 exchange, a qualified intermediary is necessary. What is a 1031 Exchange? A 1031 exchange allows real estate […]
Do I need to file an extension for my taxes?
Tax Day 2021 – May 17, 2021 Today is the day to file an extension if you have not yet filed your 2020 tax return…… but don’t forget that the IRS still wants their money today regardless of an extension. What does that mean, exactly? If you extend your taxes and you end up owing […]
Renting Residential Real Estate — A Tax Review for the Nonprofessional Landlord
Investing in residential rental properties raises various tax issues that can be somewhat confusing, especially if you are not a real estate professional. Some of the more important issues rental property investors will want to be aware of are discussed below. Rental Losses Currently, the owner of a residential rental property may depreciate the building […]