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Real Estate Depreciation Explained | The #1 Tax Write Off for Real Estate Investors!

LyfeAccounting

So what is the #1 tax write-off for real estate investors? No, it’s not repairs, maintenance, or real estate taxes. The number 1 tax write-off for real estate investors is…. we’re going to break down depreciation, and how real estate investors can use it to save thousands of dollars in taxes.

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1031 Exchange Explained: How to Pay Zero Tax on Real Estate Gains

LyfeAccounting

This is the number one way real estate investors accumulate wealth and that is the 1031 exchange. The 1031 exchange specifically comes from Section 1031 in the Internal Revenue Code, and it allows real estate investors to defer paying taxes on real estate gains. What is a 1031 Exchange.

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Professionals on the Move – Nov. 2023

CPA Practice

With more than 20 years of brand-building and marketing experience, Ball brings a deep understanding of the small business accounting landscape and will ensure Bookkeep’s solutions align with the urgent needs of bookkeepers and finance teams. She is a member of the American Institute of CPAs and the California Society of CPAs.

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Interesting Niches under a COVID Cloud

BuildYourFirm

Beyond the unemployment rate, many local businesses have been severely impacted. Real Estate Leasing (Commercial) – While the residential market is red hot in many parts of the country, the commercial real estate market is very soft, particularly in larger cities and shopping areas. Accounting for Film Production.

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13 Non-deductible Expenses and Other FAQs for Tax Time

inDinero Tax Tips

Federal Taxes This may seem obvious, but you can’t deduct your federal tax payments as business expenses. However, you can deduct state and local taxes to the extent they’re attributable to your business. As part of the Home Office Deduction, for instance, a portion of real estate taxes can be deducted.

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Best Accounting Blogs: Finding a Great Blog for Accountants

Snyder

But since accountancy is a necessity for so many people, accounting blogs actually gather vast and varied audiences. Accountants, bookkeepers, and CPA’s. First and foremost, accountancy blogs are read by accountants, bookkeepers , and CPAs (Certified Public Accountants). Small business owners.

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Basic Accounting for a Small Business: Bookkeeping and Accounting Basics

Snyder

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. Bookkeeping vs. Accounting.