xendoo

JUNE 25, 2021

Setting up your real estate accounting system the right way will enable you to minimize the labor and stress involved in large-value transactions, extreme income fluctuations, employee pay formulas, and government regulations. These tips are for you if your business is: Real estate broker or agent. Building construction.

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Accounting Insight

FEBRUARY 1, 2024

Armed with huge volumes of business accounting records, HMRC will identify tax risks for pursuit. It typically organises itself internally by creating an action plan, which the various specialists feed into, again e.g., CT, VAT, PAYE and income tax related queries.

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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).

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LyfeAccounting

MARCH 11, 2021

The good news: You can deduct the state and local property taxes you pay. First, $10,000 ($5,000 when married filing separately) is the limit on the total amount of state and local income taxes and sales you can deduct. Note that existing homes and new construction qualify for the energy credit, but rentals properties do not.

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LyfeAccounting

JULY 30, 2021

And this is treated very differently for tax purposes. Short-term capital gains are taxed just like your ordinary income, which is the highest type of income tax that exists. Ordinary income tax brackets can range from 0-40%. So how do you pay long-term capital gains tax on your stocks?

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LyfeAccounting

FEBRUARY 24, 2021

Short-term capital gains are taxed as ordinary income based on your federal income tax bracket. The credit is known as the Child and Dependent Care tax credit and the limit is $3,000 for one qualifying child or $6,000 for two or more. Pro Tip: Both existing homes and new construction qualify.

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LyfeAccounting

NOVEMBER 3, 2020

?. Every year, more than 2 million taxpayers overpay their income taxes. This could be due to poor tax planning, or because they’re missing some of the biggest business tax write-offs. Meanwhile, the top 1% are using the tax law to their advantage to minimize their tax liability, oftentimes leaving us clueless….

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