Some of my clients have been successful in real estate investing. As landlords and property owners they are using assets to build wealth. Do I think real estate investing is a sound way to make money? Yes, for those who understand the fundamental factors of economics and risk, real estate can be a solid investment.
As a CPA during tax season, I meet with lots of people. Many of them are regular clients who engage in year-round tax planning. For these people, tax season has few if any surprises. Others aren’t so well prepared. No one wants to pay more in taxes than they have to. Two of the best strategies for preventing that are tax planning and early filing.
Tax season is the time when CPAs and other tax professionals are fully engaged in preparing client returns. The professionals know that for small businesses taxes are always challenging and require constant attention. Consider how the changes to the tax law that apply to the 2108 returns increase the complexity of the process. Here is some advice from tax professionals for small-business owners to help them respond to the changes brought by tax reform and navigate the perennial tax burdens they always face.
The end of the year is always a busy time for business owners. While juggling holiday planning, you also have to take care of some important business duties so you will have a successful year when the calendar flips over. Solid year-end tax planning helps you know where you stand in 2018 and how to prepare for 2019.
The last quarter of any year is a busy one for anyone who wants to get a jump on tax planning and preparation. With holidays and shopping competing for your attention it’s easy to lose your focus on long-range financial planning. However, for those who can set aside time to review their finances, the advantages gained are many.
Taxes. If you are self-employed, the myriad tax rules that apply to your income may dampen your entrepreneurial spirit. Especially when you are preparing to file your return. But, taxes don’t have to be such a burden. Take advantage of the immediacy of your situation - what better time to do some planning than while everything is fresh in your mind. Here's some advice on how to get an early start on tax planning strategies for this year:
The end of the year is always a busy time for business owners. While juggling holiday planning, you also have to take care of some important business duties so you will have a successful year when the calendar flips over. As 2017 draws to a close, the possibility of major tax legislation makes tax planning more important than in previous years. This year, good tax planning has to acccount for what may happen in the near future.
Do you use your home as an office? If so, it's worth considering whether or not you are eligible to take a tax deduction for your home office. The benefit can be significant. The home office deduction is one key way to reduce your tax bill. Here's some guidance from the IRS on how to determine your eligibility.
There are a few differences between a traditional IRA and a Roth IRA, and it is important that you understand these distinctions when you are choosing your retirement savings platform. Both types of retirement savings accounts can be beneficial, and you should talk with an accountant or qualified financial advisor to make the decision based on the best tax savings strategies for your individual needs.
No question. Today’s tax laws are complicated. Many individuals are confused about which credits and deductions they can claim on the 2016 return. Even if you use professional tax preparation services, it’s a good idea to be familiar with the types of tax breaks for which you many be eligible.