Image from www.gloucester-ma.gov If you’re a real estate investor, you may be missing some important ways to lower your tax burden. They can help increase your profits and make real estate investing a profitable side hustle without losing your income to the IRS. Here are the top ways to reduce your tax burden as… Continue reading How to Lower Your Tax Burden as a Real Estate Investor
Image from https://www.mashvisor.com/ You know real estate appreciates and can be a good hedge against inflation, but did you also know there are tax benefits? Yes, this passive source of income can lower your tax liability. Here’s how. 1. Tax Deductions As a real estate investor, you can take certain deductions regarding your real… Continue reading Real Estate Investing – Are There any Tax Benefits?
Image from https://accountalent.com Did you have W-2 employees in 2020 or 2021? If so, you might not have filed for the Employee Retention Credit (ERC), but it’s not too late. Business owners can still qualify for up to $5,000 in credits per employee for 202 and up to $7,000 in credits per employee for… Continue reading Employee Retention Credit – Executive Summary
Image from www.excelbuilders.com Section 1031 allows you to avoid taxes on new property investments when you immediately reinvest capital gains into another property. You can keep doing this until you die, and then your heirs receive the properties. The good news is that your heirs receive the property at the stepped-up market value on the… Continue reading 1031 Exchange and Delaware Statutory Trust
Image from https://landlordgurus.com/ Are you thinking about selling a commercial or rental property? Did you know there are ways to avoid paying capital gains on your profits? Many real estate investors and business owners aren’t aware of this and end up paying unnecessary taxes. So I’m going to share with you a couple of… Continue reading Tax Implications of Selling a Rental Property
Image from https://gocleancredit.com/ The housing market won’t be the same as in the last few years. Many experts predict housing prices will decrease by as much as 10% by 2024. This could be bad news for homeowners who borrowed a lot to buy their home, leaving them upside down (owing more than the home’s… Continue reading What is a Short Sale
Image from www.investorjunkie.com Investing is a smart decision to prepare for your future, but your tax liabilities can deplete your earnings if you aren’t careful. However, you can use some simple tax strategies to offset your tax liabilities and keep more money in your pocket. In addition, understanding the tax rules will help you make… Continue reading TAX TIPS FOR STOCKS
Image from www.brookings.edu Did you know that you pay capital gains taxes when you sell an investment property? Did you also know that you could offset or defer the taxes in certain situations? There are two ways to defer the capital gains tax: a Section 1031 like-kind exchange or a qualified opportunity zone… Continue reading Tax Planning for Capital Gains
Image from https://riveron.com/ The CARES Act created many benefits for employers, including the Employee Retention Credit. This credit gives small and medium-sized businesses up to 50% of the wages paid to employees. The wages must have been paid during the pandemic. The maximum a business can receive is $26,000 per employee, and it’s a… Continue reading How to File for Employee Retention Credit
Image from www.nanoe.org The Employee Retention Credit (ERC) is a tax credit for business owners that you shouldn’t overlook. It requires you to reduce your payroll income tax deductions, but a tax credit is better than a deduction, so it’s worth understanding. Many business owners get a $5,000 credit for 2020 and a $21,000 credit… Continue reading CLAIM YOUR EMPLOYEE RETENTION CREDIT