LyfeAccounting

MAY 25, 2021

And this essentially is what we are referring to when we say inflation tax is hidden. Because instead of you actually paying taxes on your tax return, it’s just something that happens when you show up to a store and everything costs more than what it used to be. You could invest in stocks, cryptocurrencies, or gold.

Tax 87

Tax Real Estate accounting and finance tax return 87

LyfeAccounting

MARCH 10, 2021

5 Things You Should Know About Tax Penalties. Common IRS Tax Penalties and How You Get Penalized. Failing to file a tax return on time. Well, the deadline for filing your federal income tax return and paying any tax you OWE is April 15th (or usually the next business day if April 15th falls on a weekend).

Tax 52

Tax tax return Real Estate Government 52

LyfeAccounting

MAY 5, 2021

So naturally, people have started to want to know what capital gains tax rates are, and want to know how they will be impacted. Now, most people know about capital gains tax from the real estate they own. But, the capital gains tax extends beyond just real estate. Real Estate.

Tax 52

Tax Real Estate Start-ups income tax 52

Snyder

JANUARY 3, 2023

All small business owners need to be familiar with basic accounting and bookkeeping, as it gives them a clear picture of the state of their finances, allows them to make informed business decisions, and lets them react to any adverse changes faster. Small business accounting basics.

accounting basics 52

accounting basics basic accounting bookkeeping Account 52

LyfeAccounting

OCTOBER 29, 2020

So according to the AICPA, which is the American Institute for Certified Public Accountants, an effective tax system is one that is fair, neutral, simple and economically efficient. A fair tax system should produce similar outcomes. And if someone has a higher income than another then you would expect them to pay more in taxes.

tax planning 52

tax planning Tax corporation tax Real Estate 52

LyfeAccounting

APRIL 30, 2021

This would give you a business percentage use of your home. You can then write off that business percentage of your: rent. real estate taxes. BUT, similar to the home office deduction, you can only write the business use of your cellphone. Then you would divide that by the total square footage of your home.

Tax 52

Tax Real Estate tax planning accounting and finance 52

MyIRSRelief

NOVEMBER 19, 2021

The American Opportunity Tax Credit (AOTC) is a tax credit that allows people who pay taxes to deduct up to $2,500 per year for four years of post-secondary education. You may get up to a 40% refund with your tax return if your credit is greater than the total taxes you owe. Small-business tax credits.

Tax 100

Tax CPA Education business tax 100

LyfeAccounting

JULY 15, 2021

In general, real estate appreciates in value over time. And if you choose to sell your home at that point, you would not have to pay any capital gains tax on the sale, up to $500,000 for married couples. There are tax incentives for homeownership. You also hedge against inflation and there’s some tax incentives.

Real Estate 52

Real Estate Tax Start-ups tax return 52

LyfeAccounting

APRIL 23, 2021

So we’re not going to use a bunch of tax jargon you will read on other blogs. Instead, we are going to do our best to make this a very simple guide so that you can follow and implement this yourself on your next tax return. Do it today and get in touch with one of our tax consultants to help you save more on your taxes.

Tax 52

Tax quickbooks Real Estate accounting and finance 52