There are few acronyms scarier to a non-resdient real estate investor than FIRPTA. By now, most real estate investors, agents, bankers, title companies and just about anyone involved in real estate is familiar with the dreaded FIRPTA. It can make or break deals.So what is FIRPTA? In a nutshell, FIRPTA laws require that a non-resident […]
The Tax Cuts and Jobs Act
The Tax Cuts and Jobs Act made major changes to the tax law and those changes will begin to take affect in 2018. Some of the major changes affect the current withholding rates. Some of those changes are as follows: 1) Reduced tax rates. 2) Elimination of personal exemptions. 3) Increased standard deductions: $12,000 for singles, […]
Five Tips to Make Tax Time Painless
Tax time is probably not your favorite time of year, especially if you have to pay the government your hard-earned dollars. Here are five tips on how we can make it just a bit less painful. 1. Have patience. Practicing patience will go a long way when you’re dealing with taxes. Keep in mind that […]
Get Ahead on Year-End Tasks
Year-end is just around the corner, and that means a couple of administrative tasks are necessary to take care of bookkeeping and tax chores. Here are a couple of tips to make year-end go smoother. Cleaning up Things will go a lot smoother if you reach out to your vendors and employees and get their […]
Tax Benefits Of Forming An S Corporation
Some of you may be asking what is an S Corporation? An S Corporation is the classification of a business entity for federal income tax purposes. It is a speical election submitted to the IRS and upon apporval, your LLC or Corporation will file it’s own tax return with the income or loss passing thru […]