LyfeAccounting

JULY 28, 2021

If you have kids under age 18 and a business, then you have a huge opportunity to save on taxes. And that is by hiring them in your business and placing them on the payroll. And we mean why not involve your kids in your business, show them the ropes, and teach entrepreneurship? Stop paying taxes then pay your kids.

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LyfeAccounting

MARCH 10, 2021

Avoid Paying Tax Penalties: Here’s How. Delay taxes for a stimulus check? Well, if you want to put yourself at risk of IRS tax penalties in 2021, then you’re doing exactly that. And we’ve been surprised at the number of people who have no idea how tax penalties and tax interest actually work.

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LyfeAccounting

JUNE 15, 2021

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…. Real estate is one of the most tax-advantaged investment vehicles. So what is it?

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LyfeAccounting

DECEMBER 30, 2020

?. Are you tired of paying taxes? Taxes stink. But recently, I heard that some people pay very little in taxes. In fact, the president’s tax returns show he paid just $750 in federal income taxes in 2016 and 2017. But it’s important that you first understand how taxes work. Yeah me, too.

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LyfeAccounting

JULY 30, 2021

In today’s post, we’re going to settle the great debate once and for all – and that is the answer to one question: Which is the better investment – stocks vs real estate? It’s no secret that real estate investing has created 90% of the world’s millionaires. Which is Better- Stocks vs. Real Estate Investing?

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LyfeAccounting

MAY 13, 2021

If you’re thinking about selling real estate, one thing that you need to keep in mind is the amount of taxes you’re going to pay on that sale. Uncle Sam’s piece of the pie is called the capital gains tax. And the capital gains tax on real estate works a lot differently than other forms of taxes.

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MyIRSRelief

NOVEMBER 19, 2021

If you’re like most, then taxes are probably not your favorite thing in the world. In this article we will go over 10 different tax credits that you may be able to claim in order to reduce your taxable income, and therefore the amount of taxes you owe. A tax credit is something that reduces your taxable income.

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LyfeAccounting

MAY 8, 2021

Top tax write offs for rental property – let’s get into this. Now, this post is focused purely on real estate. So we assume that you are either : A current real estate investor, or. You are considering becoming a real estate investor. So we personally love real estate.

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LyfeAccounting

MAY 5, 2021

Now there’s been a lot of talk from the President about raising the capital gain tax rate from 20% to 39.4%. And it’s suggested that the proposed rate would be one of the highest capital gains tax hikes we’ve seen in the last 100 years. Now, most people know about capital gains tax from the real estate they own.

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LyfeAccounting

AUGUST 10, 2021

Look, taxes are the single greatest expense that most people will pay over the course of their lives. It’s taxes. . Believe it or not, taxes are evading almost every single part of your life. You pay taxes on your income, on your purchases, the property you own, and so much more. The Tax Code is Not Your Enemy.

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LyfeAccounting

OCTOBER 26, 2020

By the end of this post, you will understand the House Sales Tax! Whatever the reason is when selling your house, one thing you want to take into consideration is your potential house sales tax liability. Now understanding and navigating your way around taxes can be a daunting task if you are not a CPA or Uncle Sam himself.

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LyfeAccounting

FEBRUARY 24, 2021

?. How much money will you be paying in taxes this year? To help you do just that, we’ll be going over the 12 most overlooked tax breaks you can take today. The more tax deductions and credits you get, the more money you get to keep. 12 Best Tax Breaks To Help You Save Money. 0% Tax on Capital Gains.

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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. What is accounting?

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LyfeAccounting

OCTOBER 29, 2020

?. President Trump vs Biden Tax Plan. With the US presidential election is right around the corner, and since we’re an accounting firm that loves taxes, it’s only right that we make a post discussing President Trump’s Tax Plan vs Former Vice President Joe Biden. What an Effective Tax System Looks Like.

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