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Real Estate

Are You Tracking Absolutely All of Your Tax-Related Business Expenses?

October 22, 2021 by Maurie West

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 […]

Filed Under: General Tax, Real Estate Tagged With: Business, IRS, Payroll, QuickBooks, quickbooksonline, Real Estate, Tax, Tax Problems, Tax Season, Taxes

Real Estate’s on a Roll. Will It Continue?

August 26, 2021 by Maurie West

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 […]

Filed Under: General Tax, Real Estate Tagged With: Business, IRS, IRS Problems, irsproblems, Payroll, Real Estate, Tax, Tax Problems, Tax Relief, Tax Resolution, Tax Season, Taxes, taxproblems

Avoiding Capital Gains Taxes with a 1031 Exchange

July 28, 2021 by Maurie West

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 […]

Filed Under: General Tax, Real Estate Tagged With: Business, IRS, IRS Problems, QuickBooks, Real Estate, Tax, Tax Problems, Taxes

5 Things That Can Unexpectedly Raise Your Taxes

July 22, 2021 by Maurie West

Proper tax planning is a year-round proposition. You cannot afford to wait until April to start planning your taxes and assessing your tax liability. Knowing which factors can raise your taxes is one of the best ways to keep more money in your pocket. These five factors can unexpectedly raise your taxes owed at the […]

Filed Under: General Tax, Tax Resolution Tagged With: Business, IRS, IRS Problems, irsproblems, Real Estate, Tax, Tax Problems, Tax Relief, Tax Resolution, Tax Season, Taxes, taxproblems

Renting Residential Real Estate — A Tax Review for the Nonprofessional Landlord

September 8, 2020 by Maurie West

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 […]

Filed Under: General Tax, Real Estate Tagged With: Real Estate

Selling Inherited Property? Tax Rules That Make a Difference

August 24, 2020 by Maurie West

Sooner or later, you may decide to sell property you inherited from a parent or other loved one. Whether the property is an investment, an antique, land, or something else, the sale may result in a taxable gain or loss. But how that gain or loss is calculated may surprise you. Your Basis When you […]

Filed Under: Real Estate Tagged With: Real Estate, Tax

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