IRS Court Cases Featuring Real Estate Investors
Friday, March 27
Here are some IRS court cases featuring real estate investors that show how important tax documentation and preparation is to protect you from huge penalties.Real estate activities are considered passive by default. Passive losses, of course, may generally only offset passive income. Unless, that...
Keep More of Your Money this Tax Season (Year End Tax Planning)
Friday, February 20
The Difference Between Tax Preparation and Tax PlanningTax preparation for the March 15th or April 15th return is not considered advance tax planning. It is merely tax compliance as opposed to voluntary tax reduction planning. Though returns aren't due until April, they cover a tax year that ends...
The Importance of Entity Structures and Recordkeeping
Friday, January 09
If you don't plan accordingly for your investing goals and choose the correct entity structure, the taxes will definitely hurt your bottom line in a big way. As a real estate investor you need to stay updated on which entities are on the IRS hit list. Recordkeeping also plays a big part in wealth...
Financial Planning that Could Save you a Fortune
Wednesday, December 31
Financial planning requires a system you can follow to be fully prepared for tax time. It's imperative that as real estate investors and business owners, you create an accounting strategy that avoids expensive mistakes, gets the most deductions and plans your wealth building accordingly. Here are...
Last Minute Year End Tax Strategies
Friday, November 21
With 2015 quickly approaching, it's time to make some strategic moves to lower your 2014 tax bill.Strategy:Prepay Deductible ExpendituresIf you itemize deductions, accelerating some deductible expenditures into this year to produce higher 2015 write-offs makes sense if you expect to be in the sam...
Year End Tax Tips to Save you Money
Friday, November 14
Individuals & Self-EmployedPlain vanilla year-end tax planning strategies suggest that all taxpayers should generally defer income and accelerate expenses in order to reduce current-year taxable income and tax liabilities. But the AMT (Alternative Minimum Tax) is becoming an increasingly big ...