article thumbnail

Depreciating Residential and Commercial Real Estate

Bharmal&Associates

A motel and apartment building are both rental real estate. The post Depreciating Residential and Commercial Real Estate appeared first on Bharmal & Associates, Inc. Premier Orange County CPAs. If you own an apartment building with a $1 million basis, your depreciation deduction is $36,360.

article thumbnail

Tax-Saving and Advisory Services for the Real Estate Industry

KROST

The real estate market can be volatile, full of risks and challenges. Real estate professionals should enlist an expert to ensure compliance and navigate the specifics of real estate tax and accounting. Our real estate industry group has a deep understanding of the tax laws that govern the industry.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

CA Prop. 19 to Affect Parent to Child Real Estate Transfers

LSLCPAs

19 to Affect Parent to Child Real Estate Transfers appeared first on LSL CPAs. With the recent news cycle mostly focused on federal level races including the Presidential election and numerous House and Senate rates, some propositions, like Prop. 19 have not received their fair share of time in the news. Prop. […].

article thumbnail

Real Estate Investors and Owners may be eligible for Energy-Efficient Home Tax Credit

LSLCPAs

The post Real Estate Investors and Owners may be eligible for Energy-Efficient Home Tax Credit appeared first on LSL CPAs.

article thumbnail

Bowers Merges in CPA Firm Kasperski Dinan & Rink

CPA Practice

Syracuse, NY-based accounting firm Bowers CPAs & Advisors has expanded its presence in Rochester after combining with Kasperski Dinan & Rink CPAs on Jan. Financial terms of the deal weren’t disclosed.

article thumbnail

Letters to the Editor: CPAs Give Their Perspectives on Why No One Wants to Be an Accountant Anymore

Going Concern

The numbers don’t lie: of 658,267 actively licensed CPAs in 53 of the 55 licensing jurisdictions, less than 1% are Black (2020 data), a number that has remained largely unchanged in 40 years. The post Letters to the Editor: CPAs Give Their Perspectives on Why No One Wants to Be an Accountant Anymore appeared first on Going Concern.

cpas 94
article thumbnail

CPAs to Clients: The IRS is Coming for Cryptocurrency

CPA Practice

For federal tax purposes, the IRS treats digital assets as “property,” and therefore transactions involving virtual currency are subject to the same general tax rules that apply to property transactions involving stock or real estate. NFTs also are included in the IRS question on tax forms related to digital assets.

cpas 98