Cost Segregation In Real Estate
Cost segregation is important because it can provide significant tax benefits and improve cash flow for commercial or investment real estate owners
KPIs For Law Firms
I will discuss business KPIs for lawyers and law firms. Lawyers and law firms are often in the dark regarding understanding their business KPIs. But having a clear understanding of these key performance indicators is essential for a successful practice.
eMerge Americas Conference
I am excited to share my experience at the eMerge Americas conference which I attended last week along with some of my team members. If you are not familiar with eMerge Americas, it is a top-tier technology conference that is transforming Miami into a global tech hub.
Organizing Business Expenses
I will discuss how to categorize your business expenses. It can be a struggle to track all your expenses, which is why breaking them down into categories is important. It allows you to see what your funds are being used for and make better business decisions.
IRS Penalties
The IRS always sends a written notice in the mail explaining the reason for the penalty, the amount you owe, and what steps you need to take next. But wait, before you take any action, make sure to check that the information provided is correct. Yes, even the IRS can make mistakes sometimes!
Extensions Have Benefits?!
If you can’t file by the deadline (April 18th), the IRS allows taxpayers to file for an extension to October 15 if they need more time to prepare their tax return. The IRS grants them automatically if you complete the proper form on time. You can submit Form 4868 electronically or on paper to file an extension; just make sure you do this before the filing deadline.
NFT Taxes
The IRS has recently released new guidance on the tax treatment of NFTs, so today, I will discuss everything you need to know. Previously, NFTs were treated as any other crypto asset from a tax perspective, so short-term or long-term Capital Gains Tax would apply when you dispose of it by selling or trading it. This is still true, but under the new guidance, they may be deemed collectibles and taxed.
Tax Deadline 2023
Today, I will discuss everything you need to know about the 2023 income tax deadline. If you don’t already know, your 2022 income taxes are due on Tuesday, April 18th (that’s in two weeks)! Make sure to file to avoid penalties and fees.
Tax Planning for Real Estate Professionals
There are many reasons why tax planning is important for real estate professionals. Some include maximizing deductions, structuring deals for tax efficiency, and more.
Crypto Tax Rules
In today's quickie, I will discuss how crypto tax works and what the IRS crypto tax rules are. If you are dealing with crypto taxes or want to learn more about it, I’m here to answer all your questions.
Owner’s Draw vs. Salary
If you’ve just started your own business, you must consider how your profits translate into official income. How you pay yourself as an entrepreneur depends on the type of small business you’ve created and how you’d want to handle those tax implications of your income.
Fractional CFO Benefits
A Fractional CFO provides high-level financial guidance and support to help a business achieve its financial goals and improve financial performance. The great thing about them is that they are a cost-effective solution for businesses that don't require a full-time CFO but still need financial expertise and guidance.
Self-Employed Mortgages
Self-employed mortgages are designed for individuals who work for themselves and may not have the traditional proof of income required to qualify for a standard mortgage. When applying for a self-employed mortgage, borrowers will need to provide documentation of their income and expenses.
Audit: What Is It?
Hi, I’m Bette Hochberger, CPA, CGMA, and today I will explain how an IRS audit works and how to prevent one. When dealing with taxes, the word “audit” is definitely [...]