Keeping Your Tax Records

Keeping Your Tax Records
When it comes to your taxes, good records are the best protection you can have if the government decides to audit your returns. But just as important as your effective recordkeeping are the measures you take to make certain that your records are kept safe. While it may cause a chuckle to picture a mythical taxpayer confessing to an IRS auditor that tax records were destroyed by the family pet, it probably wouldn’t be nearly as funny to give a similar response in a real audit of your own. Read More

Here’s How to Use 2019 as a Chance to Save More Money Than Ever in the Long Run

Here’s How to Use 2019 as a Chance to Save More Money Than Ever in the Long Run
Here’s How to Use 2019 as a Chance to Save More Money Than Ever in the Long Run   

A new year is nothing if not a new opportunity – and one that it would be an absolute shame not to take full advantage of. Every new year, people make countless resolutions. Some want to lose weight; others want to become more productive. One of the most common, however, involves boosting your savings – or lack thereof.

The most critical thing to keep in mind is Read More

Important – Rental Owners! Guidance Related to the 20% Pass-Through Deduction  

Important – Rental Owners! Guidance Related to the 20% Pass-Through Deduction   

Highlights:

  • 199A 20% Pass-Through Deduction
  • Rental Safe Harbor Qualifications
  • Books & Records
  • 250 Hours
  • Contemporaneous Record
  • Triple Net Leases
  • Vacation Home Rentals
  • Double-Edged Sword

 

Ever since tax reform was passed, over a year ago, taxpayers have been uncertain whether rental property will be classified as a trade or business for  Read More

Tax Time Is Around the Corner! Are You Ready?

Tax Time Is Around the Corner! Are You Ready?

Article Highlights:

  • Time to gather your information for your tax appointment
  • New for 2018
  • Choosing your alternatives
  • Tips for pulling your information together

 

Tax time is just around the corner, and if you are like most taxpayers, you are finding yourself with the ominous chore Read More


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