Even some of the savviest real estate brokers can get trapped in the most common accounting mistakes. There’s a similar thread of accounting mistakes woven throughout the real estate industry that creates challenges and complications come tax time. Many of … Continue reading
Category Archives: Tax Tips
24 February 2020
Top 5 Real Estate Tax and Accounting Mistakes
10 February 2020
The SECURE Act: Key Takeaways and Strategies to Consider
Over the past few years, we have seen some of the greatest shifts in tax legislation. And just as we are finally digesting the unprecedented tax reform changes of 2018, we now turn our attention to one of the most … Continue reading
10 January 2020
IRS Establishes No Clawback Rule on Gifts and Estates
In a recent announcement, the IRS presented the highly-anticipated final regulations on gift and estate tax exclusion amounts made between 2018-2025, confirming there will be no clawback after the exemption amount sunsets. The IRS and the Treasury Department have established … Continue reading
10 January 2020
Top 10 Tax Deductions for Small Businesses
As we gear up for tax season and another round of the tax-reform era, here’s what small businesses need to know about tracking and deducting their eligible business expenses. Everything adds up, so be sure to organize and plan accordingly; … Continue reading
7 January 2020
Important Tax Deadlines in January
Most of us are familiar with the matriarch of all tax days—April 15—but there’s other federal tax deadlines to be aware of as well to stay in compliance with the IRS. January 15 – 4th Quarter Estimated Taxes If you … Continue reading
5 December 2019
10 Reasons Why Your Small Business Needs a Bookkeeper
With many small businesses thriving during the holiday season, this is the time of year that makes running a business exciting and enjoyable! This is also the time of year to reconcile books and prepare for tax season. How can … Continue reading
18 September 2019
What should I do if I owe Money to the IRS?
When working with tax clients, it is important they understand the difference between the filing of their tax returns and the paying of the tax due on these returns. These two tasks are mutually exclusive and we certainly get the … Continue reading
11 September 2019
What do I do if I am behind a few years in filing my Income Taxes?
This is a very popular question in our tax office and we get it often. “I have not filed my taxes for three years. Am I in trouble or what should I do?” Well, it is important to understand your … Continue reading
5 September 2019
I filed my Income Tax Extension but when is my Tax Return Due?
We get many questions each year around this time that go like this: “OK Stu, I know you filed an extension for my business and personal returns, but when are the filings due?” This is a BUSY time of year … Continue reading
25 July 2019
Income Tax cutting strategies for Mid Year 2019
While many tax preparation firms go on vacation after tax season ends, my firm stays busy year round helping clients plan their taxes, budgets, and overall financial lives. There are often many things one can do to pay less taxes … Continue reading
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