LyfeAccounting

JULY 23, 2021

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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Real Estate Tax tax return cpas 52

LyfeAccounting

JUNE 30, 2021

And therefore, no business credit can be established. Instead, in order to build your business credit and increase your chances of getting business loans, you need to file the formal paperwork to legally establish your business. Collateral can be equipment, inventory, real estate among other things.

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Real Estate financial statements accounting and finance Start-ups 52

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?

Real Estate 52

Real Estate Tax income tax Start-ups 52

Accounting Seed

JULY 21, 2022

Good workflows help keep your startup accounting on track, and keep your business healthy. Separating Business and Personal Finance. If you start out as a small proprietor or partnership, it’s perfectly legal to mingle personal and business money. Legally, you and your startup are one entity.

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accrual accounting Account accountant accounted 52

LyfeAccounting

MAY 18, 2021

Perhaps you started an LLC with the big goals of having the best online store or marketing agency or real estate firm but just never got around to making it actually happen. So if it’s been 3 years, you’ll have to pay the fees associated with all 3 years to be in good standing and legal to operate. Don’t feel bad.

Tax 52

Tax tax return accounting and finance Real Estate 52

LyfeAccounting

DECEMBER 30, 2020

So I decided to take a deeper look into it and share how you could also pay very little in taxes with real estate. Stay tuned as today, we’re taking a look at how you can pay very little in taxes with real estate, legally. Now there are many ways you can do this, but in this post, let’s focus on real estate.

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Real Estate Tax income tax Gaming 52

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. And the capital gains tax on real estate works a lot differently than other forms of taxes. Uncle Sam’s piece of the pie is called the capital gains tax.

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Real Estate Tax Sales tax preparation 52

LyfeAccounting

MARCH 10, 2021

Now we have investments in real estate and accredited funds , and we’re happy to earn 6%, especially with passive investments. And if you ignore them, the IRS could determine that you are evading taxes or committing tax fraud, which could put you on the hook for legal fines. The IRS is still going to charge you.5%

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Tax tax return Real Estate Government 52

LyfeAccounting

MAY 8, 2021

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. By owning your own single-family property, or maybe getting to a real estate syndication and investing with a group of people.

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Real Estate Tax Legal audit 52

LyfeAccounting

OCTOBER 26, 2020

I even included legal loopholes to help you avoid paying taxes on the sale of your home so you definitely want to read this whole article. You receive Form 1099-S (Proceeds from Real Estate Transactions). Here are three legal loopholes to minimize your tax hit: 1. Those looking to sell their investment property.

Sales 52

Sales Tax Real Estate CPA 52

LyfeAccounting

FEBRUARY 24, 2021

Hopefully, the lowest amount legally possible! Note that this post is for educational purposes and you should contact your attorney or legal professional for specific advice for your situation. ?. How much money will you be paying in taxes this year? The more tax deductions and credits you get, the more money you get to keep.

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Tax Real Estate Education Legal 52