LyfeAccounting

JULY 28, 2021

So why is hiring your children a beneficial tax strategy for you and your kids? You get a tax write-off for the pay you give them and in turn, your kids (or you) can use that income tax-free to help provide for what they need. However, it is only tax-free if you pay them under the standard deduction. It’s simple.

Tax 52

Tax payroll payroll tax Real Estate 52

Cherry Bekaert

JUNE 13, 2023

Making Informed Entity Selection Decisions The life cycle of your real estate venture or property management company should be planned with the end in mind. The following types of business entities are options to own real estate or operate a related business: Sole Proprietorship : Many single owners of real estate are an individual.

Real Estate 59

Real Estate income tax tax return Legal 59

xendoo

APRIL 8, 2022

A tax deduction and tax credit can both save you money on taxes, but they are different terms. . Tax deductions can lower the amount of taxable income. For example, tax brackets–a range of annual income–are used for income tax. Employee benefits.

business tax 97

business tax Tax Education tax preparation 97

CPA Practice

SEPTEMBER 11, 2023

million of taxes Mayo Clinic paid on revenue generated by “debt-financed real-estate investment” over seven years. Universities are exempt from paying taxes on that type of real estate revenue. The years 2004, 2008 and 2009 were not included because no income of that type was reported.

Real Estate 115

Real Estate Tax Education Hospitality 115

CPA Practice

SEPTEMBER 12, 2023

million of taxes Mayo Clinic paid on revenue generated by “debt-financed real-estate investment” over seven years. Universities are exempt from paying taxes on that type of real estate revenue. The years 2004, 2008 and 2009 were not included because no income of that type was reported.

Real Estate 95

Real Estate Tax Education Hospitality 95

MyIRSRelief

JANUARY 6, 2020

The IRS didn’t come into being until 1862, to handle our first national income tax, 3% of income, levied to fund the Civil War. That tax expired in 1872, but again in the early twentieth century, just before World War I, Congress passed the Sixteenth Amendment, which imposed income taxes again. Tax Audits.

Tax 100

Tax payroll tax audit tax return 100

xendoo

JANUARY 16, 2023

How Are Small Businesses Taxed? Depending on your business structure and income, you may be subject to one or more types of taxes. The term refers to when the IRS taxes the same income twice—once at the corporation level and again on an individual shareholder’s personal income tax.

business tax 52

business tax Tax income tax payroll tax 52

Anders CPA

AUGUST 23, 2022

The 15% corporate alternative minimum will apply to covered corporations, those that have stock traded on an established securities market, that have an average annual adjusted financial statement income (AFSI) exceeding $1 billion for any three taxable year periods ending in the current tax year. 1% Excise Tax on Stock Repurchases.

Tax 98

Tax Real Estate payroll tax payroll 98

ThomsonReuters

FEBRUARY 8, 2024

How are LLCs taxed? LLCs are considered “pass-through entities,” which means the LLC itself does not pay federal income taxes on business income. Instead, income “passes through” to individual members of the LLC, who pay federal income tax earned from the LLC via their own individual tax returns.

Tax 52

Tax income tax payroll tax Healthcare 52

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).

Tax 100

Tax CPA Education business tax 100

KROST

APRIL 19, 2021

Example 1: ABC Company owns three restaurants that each have their own EIN and each file their own Federal income tax returns. None of the three restaurants operate separately under its own EIN, and XYZ Company files Federal income tax returns that include gross receipts and expenses from all three restaurants.

tax return 52

tax return Tax Non-Profits Sales 52

Going Concern

JANUARY 19, 2023

Burnell did not report any of the money he received from victims in 2011 or 2012 on his income tax returns. Burnell only reported income from gambling winnings in 2011 and 2012 – estimated to be more than $1 million – all of which was offset by gambling losses. million, a portion of the proceeds of the charged criminal conduct.

Tax 60

Tax tax return Gambling tax preparation 60

KROST

OCTOBER 9, 2020

Proposes taxing capital gains and dividends at same rate as ordinary income tax for taxpayers with over $1MM in income. Proposes to eliminate step up in basis for capital gains and tax all unearned capital gains at death. Proposes to eliminate Like-Kind Exchange (1031 Exchange) for real estate investments.

Real Estate 75

Real Estate Tax payroll tax income tax 75

KROST

JANUARY 11, 2021

May not exclude subcontractor costs, reimbursements for purchases a contractor makes at a customer’s request, investment income, and employee-based costs such as payroll taxes. Qualified sick and family leave for which a credit is allowed under sections 7001 and 7003 of the Families First Coronavirus Response Act.

payroll 40

payroll Non-Profits Tax Real Estate 40