Real Estate small business accounting tax planning tax return 
LyfeAccounting
MAY 18, 2021
When you work for someone else as an employee, your taxes are automatically withheld and paid by your employer to the IRS and state agencies throughout the year. For most employees, this is why little to no taxes are due when they file their tax returns. But for business owners, it’s different. Don’t feel bad.
LyfeAccounting
MARCH 10, 2021
5 Things You Should Know About Tax Penalties. Common IRS Tax Penalties and How You Get Penalized. Failing to file a tax return on time. Well, the deadline for filing your federal income tax return and paying any tax you OWE is April 15th (or usually the next business day if April 15th falls on a weekend).
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LyfeAccounting
APRIL 30, 2021
This would give you a business percentage use of your home. You can then write off that business percentage of your: rent. real estate taxes. BUT, similar to the home office deduction, you can only write the business use of your cellphone. You can be taxed as an S-Corporation or even a C-Corporation as well.
LyfeAccounting
APRIL 23, 2021
So we’re not going to use a bunch of tax jargon you will read on other blogs. Instead, we are going to do our best to make this a very simple guide so that you can follow and implement this yourself on your next tax return. Do it today and get in touch with one of our tax consultants to help you save more on your taxes.
LyfeAccounting
DECEMBER 30, 2020
In fact, the president’s tax returns show he paid just $750 in federal income taxes in 2016 and 2017. So I decided to take a deeper look into it and share how you could also pay very little in taxes with real estate. But it’s important that you first understand how taxes work.
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.
LyfeAccounting
AUGUST 10, 2021
Not to invest in stock markets, real estate, or your business. . But no, literally, just to pay taxes to the government. By the way, speaking of stock and real estate, we have another post that discusses which is the better investment – stocks vs real estate investing.
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