MyIRSRelief

MAY 1, 2024

Tax Planning and Strategy: A skilled tax professional is more than just a filing machine. They can help you develop tax-saving strategies tailored to your business structure (C corporation, S corporation, or partnership). Time Efficiency: Tax preparation and research are notorious time-sinks.

Tax 130

Tax tax planning audit Non-Profits 130

CPA Practice

MARCH 19, 2024

Marriage The first question that a lot of newlyweds ask themselves and/or their tax preparer is – “Can we still file as single?” If you are legally married, the answer is no, and you may not want to anyway given the potential tax implications. Jamie Scott is a partner at The Bonadio Group.

Tax 52

Tax Real Estate tax preparation Education 52

CPA Practice

NOVEMBER 9, 2023

New updates and features include: Client OneView – Allow previews up to 5 clients simultaneously and gain insights into potential tax savings, the number of probable strategies, and the potential strategies for each client to create a personalized tax plan for each client with confidence.

Real Estate 52

Real Estate tax return quickbooks Tax 52

ThomsonReuters

OCTOBER 12, 2023

For accountants, understanding how to navigate foreign asset reporting is essential, as the IRS requires taxpayers to report certain foreign assets to ensure compliance and combat tax evasion. Non-financial assets, such as real estate, art, or personal property, generally do not need to be reported on this form.

Real Estate 40

Real Estate tax return Tax tax preparation 40

KROST

FEBRUARY 23, 2021

This is a preview of one of the articles in the new KROST Quarterly Real Estate Issue , titled “Opportunity Zones and Cost Segregation” by Guest Contributor Artur Babaian. Deferring gain into an Opportunity Zone investment differs from a 1031 exchange deferral, which is familiar to most real estate investors.

Real Estate 52

Real Estate Delaware Tax tax planning 52

KROST

NOVEMBER 10, 2020

From tax preparation to cybersecurity risk assessment, KROST is well-versed in the manufacturing and distribution industry challenges to help navigate clients through many issues. We provide tax planning, advisory and consulting, and compliance services. Over the years, it became the firm’s largest industry niche.

Manufacturing 55

Manufacturing Real Estate CPA tax preparation 55

ThomsonReuters

JULY 6, 2023

Let’s take a look at what tax advisory is and how you can take advantage of this approach to serving clients. What are tax advisory services?

Tax 98

Tax tax return income tax audit 98

Withum

MARCH 1, 2023

If you have a complicated tax return and the tax comparison schedule is inadequate, then you should prepare your own schedule, and I suggest using spreadsheet software. When you prepare this schedule, I suggest having columns for the last three years and the past year and comparing the four years’ amounts.

tax return 59

tax return Tax income tax Real Estate 59

ThomsonReuters

NOVEMBER 15, 2023

taxpayers are accurately valuing their noncash contributions and claiming the appropriate tax deductions. Noncash contributions can include property such as artwork, real estate, vehicles, and other assets, but do not include cash, check, or other monetary gifts. Form 8283 is used to ensure U.S.

tax return 98

tax return Tax tax planning Real Estate 98

LyfeAccounting

AUGUST 10, 2021

Not to invest in stock markets, real estate, or your business. . But no, literally, just to pay taxes to the government. By the way, speaking of stock and real estate, we have another post that discusses which is the better investment – stocks vs real estate investing. Or how about real estate?

Real Estate 52

Real Estate Tax tax return tax preparation 52

Ryan Lazanis

MAY 24, 2023

Tax software is starting to move online and the promise is that tax software will become far more integrated into your accounting suite to help automate the completion of tax forms, making tax preparation much more seamless and beneficial for your current and potential clients.

Technology 98

Technology Account accountant accounted 98

ThomsonReuters

MARCH 1, 2024

Itemize business deductions Like most businesses, S corps can reduce their tax burden by deducting expenses related to operation of the business. Depending on the type of business, investing in corporate tax software may be worth considering as well. The post How are S corporations taxed?

corporation tax 52

corporation tax Tax tax return income tax 52

xendoo

NOVEMBER 23, 2020

Deduct insurance premiums on the company’s real estate holdings and equipment. Real Estate Taxes. Any real estate taxes you pay to your state, city, and even another country are deductible. Property Insurance. Medical Care and Insurance. Business credit cards. Home equity loans.

Tax 52

Tax Real Estate Education Legal 52

ThomsonReuters

JUNE 15, 2021

When I worked for a former employer, they did nothing but tax returns for their clients – no tax planning, no projections, no advice around law changes – that was it,” says Angie. To me, the tax return should be the last thing we worry about. And that completely shocked me.

cpa firm 98

cpa firm tax return CPA Non-Profits 98

ThomsonReuters

OCTOBER 12, 2023

From understanding what foreign income is to navigating various tax forms and deductions, it is important for accountants to understand the ins and outs of U.S. taxpayers who own foreign real estate may have additional reporting requirements. Plan ahead. Foreign property reporting. Timely filing.

Tax 40

Tax tax return income tax Real Estate 40

LyfeAccounting

JUNE 7, 2021

Now listen, even if you are not able to avoid taxes today or in 2022, or even 2025… …you can still start right now, acquire assets, get passive income and eventually, be able to avoid paying taxes because of the next tip. Then your tax report will show you had a loss.

Legal 59

Legal Tax income tax Real Estate 59

LyfeAccounting

MAY 18, 2021

So as mentioned before, pay at least 110% of the prior year’s tax and that should save you from failure to pay penalties. Tax Mistake #6: Having inactive or dead LLC. Did you file tax returns during those years it was inactive? Avoid These Tax Mistakes At All Costs! Don’t feel bad. This happens a lot.

Tax 52

Tax tax return accounting and finance Real Estate 52

LyfeAccounting

FEBRUARY 24, 2021

…regularly and exclusively for business, you can write off any associated rent, utilities, real estate taxes, repairs, and maintenance amongst other things. There you have it – 12 tax breaks most people miss that can help you save BIG during tax time! similar structure. Student Loan Interest Deduction.

Tax 52

Tax Real Estate Education Legal 52

LyfeAccounting

MARCH 10, 2021

So many people think because they file an extension they are exempt from tax penalties, but no. 5% until you pay off your taxes, which can basically be 6% a year. Now we have investments in real estate and accredited funds , and we’re happy to earn 6%, especially with passive investments.

Tax 52

Tax tax return Real Estate Government 52

MyIRSRelief

NOVEMBER 19, 2021

That’s why so many people choose to hire a tax preparer/ EA, Attorney, CPA, they don’t want the hassle of doing it themselves, and they trust an expert to handle their business. Tax credits to look out for. Earned Income Tax Credit (EITC).

Tax 100

Tax CPA Education business tax 100

ThomsonReuters

NOVEMBER 15, 2023

Donating appreciated assets, such as stocks or real estate, can provide additional tax benefits. In such cases, you may be able to avoid capital gains tax on the appreciation while also claiming a charitable deduction for the fair market value of the donated asset. Appreciated assets.

Account 52

Account accountant accounted tax return 52