xendoo
JUNE 25, 2021
As the owner of a new real estate business, you’re probably aware of the unique characteristics of your industry. You take a personal interest in the real estate market, and you are excited to do great work for your clients, whether buying or selling pieces of property. . Real estate investment management.
Pooley Accounting Services
AUGUST 5, 2021
So, what do you REALLY need to keep for taxes, and how long do you need to keep it? . The purpose of keeping documents for taxes is to prove your income, expenses, etc. were what you claim on your tax return. Failure to provide documentation can cost you deductions or cause you to pay penalties or additional taxes. .
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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
MAY 25, 2021
And this essentially is what we are referring to when we say inflation tax is hidden. Because instead of you actually paying taxes on your tax return, it’s just something that happens when you show up to a store and everything costs more than what it used to be. You could invest in stocks, cryptocurrencies, or gold.
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).
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.
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. Then you would divide that by the total square footage of your home.
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