RogerRossmeisl

SEPTEMBER 4, 2023

More than a million Americans live in nursing homes, according to various reports. Long-term medical care The costs of qualified long-term care, including nursing home care, are deductible as medical expenses to the extent they, along with other medical expenses, exceed 7.5% The post Moving Mom or Dad into a Nursing Home?

Tax 246

Tax Healthcare CPA 246

RogerRossmeisl

NOVEMBER 5, 2021

If you’re fortunate enough to own a vacation home, you may want to rent it out for part of the year. The post Tax Effect of Renting Out Your Vacation Home appeared first on Roger Rossmeisl, CPA. What are the tax consequences? The tax treatment can be complex. It depends on how many days it’s rented and your level of personal use.

Tax 242

Tax CPA 242

CPA Practice

APRIL 22, 2024

But bringing that amount home will require good deal more income, according to a recent analysis. GoBankingRates.com looked at how much you need to earn in each state to actually bring home $100,000 a year. All those deductions combined can turn a six-figure salary into a take-home pay of five figures, the analysis showed.

South Dakota 116

South Dakota Alabama New Hampshire Wyoming 116

CPA Practice

OCTOBER 6, 2023

home — is now slightly less than $52 trillion, which is $1.1 home during this period, the powerhouse behind this surge has been new construction. “A Despite the presence of higher mortgage rates, which deterred some home shoppers and kept many existing homeowners on the sidelines, enough buyers remained to keep the market moving.

Florida 116

Florida New Jersey Construction New York 116

RogerRossmeisl

AUGUST 24, 2021

If you have a parent entering a nursing home, you may not be thinking about taxes. Long-term medical care The costs of qualified long-term care, including nursing home care, are deductible as medical expenses to the extent they, along with other medical expenses, exceed 7.5% But there are a number of possible tax implications.

Tax 246

Tax Healthcare CPA 246

CPA Practice

APRIL 18, 2024

By Evan Rosen, New York Daily News (TNS) Rapper Tekashi 6ix9ine had several of his cars and other personal items seized from his home in Lake Worth, FL, on Wednesday, as IRS agents and local police raided the residence. Tekashi, a 27-year-old New York native, was not home at the time of the raid.

New York 115

New York Legal Tax 115

RogerRossmeisl

NOVEMBER 13, 2022

Bring Home a Tax Break Too appeared first on Roger Rossmeisl, CPA. Both the credit and the exclusion are phased out if the parents’ income exceeds certain limits. Parents can claim both a credit and an exclusion for expenses of adopting a child. But they can’t claim both a credit and an exclusion for. The post Adopting a Child?

Tax 238

Tax CPA 238

CPA Practice

APRIL 23, 2024

Bloomberg News (via TNS) Sales of previously-owned homes in the U.S. Though rebounding from cyclical lows, home sales are stuck because interest rates have not made any major moves,” NAR Chief Economist Lawrence Yun said in a statement. The inventory of previously-owned homes for sale increased 14.4% By Michael Sasso.

Sales 52

Sales Construction accounting and finance Finance 52

CPA Practice

MAY 7, 2023

In the not-so-distant past, working primarily from a remote location like your home was a somewhat unusual occurrence. Due to the pandemic, having employees work from home became standard operating procedure. Possible solution: You might have your C corporation rent the home office. Not anymore.

payroll tax 124

payroll tax income tax payroll Tax 124

CPA Practice

DECEMBER 13, 2023

This article covers two home energy tax credits for your individual clients to take advantage of by saving money on their tax returns and conserving energy to help out the environment. The credit is further increased for amounts spent on home energy audits, limited to $150. Remember to save any related documentation.

CPA 122

CPA tax return Tax audit 122

RogerRossmeisl

NOVEMBER 12, 2023

Many Americans own a vacation home or aspire to purchase one. If you own a second home in a waterfront community, in the mountains or in a resort area, you may want to rent it out for part of the year. It depends on how many days the home is rented and your level of personal use.

Tax 100

Tax CPA 100

CPA Practice

JULY 12, 2023

The typical home value eclipsed $350,000 for the first time ever as healthy demand from buyers continues to collide with reluctant sellers, according to the latest Zillow Market Report. Home buyers have persisted this spring despite daunting affordability challenges and record-low inventory,” said Jeff Tucker, senior economist at Zillow.

Oklahoma 96

Oklahoma Kansas Virginia Washington 96

CPA Practice

MARCH 6, 2024

Home shoppers today need to make more than $106,000 to comfortably afford a home, a new Zillow analysis finds. home, spending no more than 30% of its income with a 10% down payment. home, spending no more than 30% of its income with a 10% down payment. home has nearly doubled since January 2020, up 96.4%

Oklahoma 111

Oklahoma Kansas New York Virginia 111

Anders CPA

JANUARY 25, 2024

The votes have been tallied and we’re excited to announce the 2024 Anders Charity of Choice is Memory Care Home Solutions! About Memory Care Home Solutions Memory Care Home Solutions (MCHS) provides support to people living with dementia and their care partners to help improve and extend quality time at home for all who require services.

Missouri 115

Missouri Hospitality Transportation audit 115

CPA Practice

JUNE 15, 2023

The IRS is reminding taxpayers that they may qualify for expanded home energy credits in 2023 (IR-2023-97, 5/4/23) There are two types of credits. Energy Efficient Home Improvement Credit: If you make qualified energy-efficient improvements to your home, you can qualify a tax credit of up to $3,200 for the tax year the improvements are made.

Construction 105

Construction audit Maine Tax 105

Anders CPA

MARCH 5, 2024

This is the 36th year for our Hoops for Hope fundraiser, and all entry donations will support our 2024 Charity of Choice: Memory Care Home Solutions. Julie Hiblovic , an Audit and Assurance Partner, who serves as a board member and treasurer for Memory Care Home Solutions, nominated the organization for our 2024 Charity of Choice.

cpas 98

cpas audit Education Legal 98

CPA Practice

JUNE 15, 2023

If you bought your home years ago, you might be sitting on a huge tax gain when you finally sell the place. Background : By making a tax return election, you can exclude from taxable income up to $250,000 of gain—or $500,000 for joint filers— from the sale of a home. This provision includes both a “use” and “ownership” test.

Sales 105

Sales tax return Tax Real Estate 105

Summit CPA

DECEMBER 6, 2023

Dave Danic, Director of Tax at Summit Virtual CFO by Anders, has an update about home office accountable plans.

Account 94

Account accountant accounted Tax 94

CPA Practice

MAY 16, 2023

The purchase was a priority, said Woods, 43, a production worker in the film industry who has been in her DeKalb County, Georgia, home for nearly two years, glad for friendly neighbors, the options for walking her dogs and the proximity to urban amenities. “I I was really excited to do it,” she said. “I I have a pride in being a homeowner.”

Real Estate 143

Real Estate Georgia Start-ups Tax 143

RogerRossmeisl

MARCH 12, 2021

During the COVID-19 pandemic, many people are working from home. If you’re self-employed and run your business from your home or perform certain functions there, you might qualify for home office deductions and be able to claim to expenses against your business income. Who qualifies?

CPA 130

CPA Tax business tax 130

CPA Practice

APRIL 28, 2023

Interest rates remain high and home buyers are looking for ways to save money, including buying mortgage points. A recent analysis of data from the Home Mortgage Disclosure Act (HMDA) by Zillow Home Loans finds nearly 45% of conventional primary home borrowers opted to purchase mortgage points in 2022 as a way to reduce their monthly payment.

Education 98

Education Sales 98

CPA Practice

FEBRUARY 19, 2024

TNS) This tax season, more entrepreneurs are looking to cash in on their work-from-home habit. Now, after investing in at-home monitors, standing desks, and Zoom-background-worthy bookshelves, they are discovering there’s a tax break for that—and giving their accountants a call. By Ali Donaldson, Inc.

Tax 116

Tax Real Estate New Jersey CPA 116

Dent Moses

APRIL 10, 2024

As housing prices and mortgage rates continue to escalate, many young people struggle to purchase their first home or upgrade. One option is for parents or family to finance the purchase of the home and hold a mortgage. Even if you can gift a home, a mortgage is asset protection. Flexible terms like a 100% loan are possible.

Finance 52

Finance Tax Construction Account 52

CPA Practice

APRIL 13, 2023

Boomers made up 39% of home buyers in 2022; Millennials 28%; Generation X at 24%; Silent Generation 5%; Gen Z 4%. The share of baby boomers has surpassed millennials and now makes up the largest generation of home buyers, according to the latest study from the National Association of Realtors.

Real Estate 122

Real Estate Utah Sales payroll 122

Dent Moses

APRIL 11, 2024

As housing prices and mortgage rates continue to escalate, many young people struggle to purchase their first home or upgrade. Even if you have the ability to gift a home, a mortgage is asset protection. The post How to Assist A Child Buying a Home appeared first on Dent Moses, LLP. Flexible terms like a 100% loan are possible.

Finance 52

Finance Tax Construction Account 52

Going Concern

FEBRUARY 1, 2024

million USD) at PwC and Deloitte partners taking home more than £1 million for the third year in a row. The post KPMG UK Partners Brought Home More Money This Year appeared first on Going Concern. Partner pay last year averaged out to £717,000 (approximately $912k USD) per. Compare that to the £906,000 ($1.2

audit 89

audit Tax Account accountant 89

Reckon

OCTOBER 16, 2023

With the pandemic bringing forward the immense possibilities of working from home, Australia has been no slouch in adopting home businesses. With high-speed internet, tax incentives , ease of entry, and a wide range of possible start-up ideas, creating a home business has never been more accessible and plausible. Give it a go.

bookkeeping 97

bookkeeping Education Retail Start-ups 97

CPA Practice

MARCH 25, 2024

Corvee, a software and solutions company serving small and medium-size businesses as well as tax and accounting firms, has added home office deduction filing guidelines to Instead and Instead Pro. The platform can also support deductions for multiple homes used for office space.

Tax 52

Tax accounting firms Account accountant 52

CPA Practice

MARCH 20, 2024

Corvee, a software and solutions company serving small and medium-size businesses as well as tax and accounting firms, has added home office deduction filing guidelines to Instead and Instead Pro. The platform can also support deductions for multiple homes used for office space.

Tax 52

Tax accounting firms Account accountant 52

CPA Practice

JANUARY 24, 2023

It allots more time to spend with family and in the comforts of home. If the inflating costs of food, gas, and living expenses have taken a hit to your income, consider these three ways to turn your lifelong work experience into profitable, work-from-home jobs.

bookkeeping 110

bookkeeping quickbooks payroll accounting software 110

CPA Practice

MAY 18, 2023

Mortgage rates rising above 8% would likely overwhelm a small price dip to make affording a home an even steeper hill to climb and send home sales tumbling, according to a new Zillow analysis. Home values might not see a notable drop, but higher mortgage rates would severely impair affordability, for first-time buyers especially.

Sales 98

Sales Government Real Estate 98

CPA Practice

MARCH 16, 2023

Home prices nationally should bottom out in 2023 then return to a more normal growth rate, according to a Zillow® survey of housing experts. Economists and housing experts polled in the latest Zillow Home Price Expectation (ZHPE) survey expect home prices to fall 1.6% home values to be nearly flat, rising 0.2%

Real Estate 110

Real Estate Construction Sales California 110

CPA Practice

APRIL 12, 2023

This may change the manner in which you claim the giant home sale exclusion. Note that the home sale exclusion isn’t automatic. Background : Generally, you can exclude from tax up to $250,000 of gain from the sale of your home or $500,000 if you’re a joint filer. It’s an election on your tax return.

Sales 114

Sales tax return Tax income tax 114

CPA Practice

NOVEMBER 30, 2023

Home prices in the U.S. It was the eighth straight month of gains for the index, which doesn’t provide a specific dollar figure for homes. By Alicia Clanton, Bloomberg News (via TNS). extended their climb, reaching a fresh record high. A national gauge of prices rose 0.7%

New York 64

New York Sales 64

Reckon

FEBRUARY 21, 2023

The Australian Tax Office has announced changes to the current working from home deduction rules and rates, which were set during the COVID-19 pandemic. The rules have shifted from the previous tax year (2021-22) with the changes reflecting the increase in people working from home. Let’s unpack them now. What’s changing?

Tax 98

Tax income tax bookkeeping Account 98

Patriot Software

SEPTEMBER 9, 2022

After you subtract all of the taxes and other deductions, money left over is considered take-home pay. Read on to learn more about what is take-home pay and how to calculate it. What is take home pay? Take-home pay consists of the […] READ MORE.

Tax 88

Tax payroll 88