“Shutting Downa Sole Proprietorship” To get my complete articlewith all the details… Want to shut down your sole proprietorship or a single-member LLC taxed as a sole proprietorship? Be aware. There are a host of tax rules to consider. That’s because the tax code stipulates that you are not selling the business, but instead are selling the assets of the … [Read more...]
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When Cost Segregation Can Be a Great Strategy
“When Cost Segregation CanBe a Great Strategy” To get my complete articlewith all the details… One of the greatest tax benefits of owning residential rental property, non-residential commercial, or investment property is...depreciation. Depreciation is a deduction you getwithout spending any additional money! Unfortunately, regular depreciation for real property … [Read more...]
Discover When Limited Partners Must Pay Self-Employment Taxes
"Discover When Limited PartnersMust Pay Self-Employment Taxes" To get my complete articlewith all the details… Are you aware of the latest developments regarding self-employment taxes for active limited partners? Our recent article, Self-Employment Taxes for Active Limited Partners, dives deep into this crucial topic and offers valuable insights that every limited … [Read more...]
Maximize Your Tax Savings with Timeshare Deductions
"Maximize Your Tax Savingswith Timeshare Deductions" To get my complete articlewith all the details… Are you looking to optimize your tax deductions with your timeshare? Discover how you can benefit from rental and personal use of your timeshare in our latest article: Tax Guide to Timeshare Deductions When You Rent It to Others. Last month, we discussed the … [Read more...]
Don’t Miss Out: Unlock Potential Tax Savings on Your Rental Property
“Don’t Miss Out: Unlock PotentialTax Savings on Your Rental Property” To get my complete articlewith all the details… Are you contemplating upgrades to your rental property? Before you do, there’s essential tax knowledge that could save you a significant amount of money, especially when replacing major structural components such as a roof. Rental Property, Often … [Read more...]