Taxes in December – The Year-End Tax Planning
[…] Keep in mind that certain expenses, particularly those related to rehabbing, may not be deductible until the property is rented or sold. In that case, paying the bills in December […]
Tax advice
Property taxes – Should I pay in December or January?
[…] This question pops up every December: should I pay my property tax bill in December or January? Well, the answer is not that easy. Let’s tackle it one step at a time. 1. Do I really have a choice? […]
Am I considered an employee or an independent contractor?
[…] the most important factor is whether they control how you do your work. Part-time, providing computer and other factors matter too, but not as much as who decides how the work should be done […]
Can unmarried parents file jointly in California?
[…] The IRS offers a loophole. If your parents once upon a time initiated their common law marriage in a state where it was recognized, they would be considered legally married by the IRS, even while living in California. The way it works […]
Ignore tax tips from consumer magazines
[…] costly mistakes based on irresponsible advice from consumer publications, because, as a rule, the advice is incomplete and cannot be applied without analyzing the reader’s particular financial situation […]
Yes, income tax is simple!
[…] situations when basic understanding of taxes is not enough. If any of the following applies to you, I’d recommend that you consult a tax professional: Business or self-employment income […]
Bookkeeping for Investors – the Good, the Bad, and the Ugly.
The more you invest in different forms of real estate, the more complicated your taxes become. Whether or not you do your own taxes, there is one thing of utmost importance […]
Reducing Taxes With Cost Segregation
[…] When using asset segregation to lower your taxes, you utilize the principle that money in your pocket now is better than money in your pocket 10 or 20 years from now. […]
IRS helping investors: 2009-10 Homebuyer credit
[…] If you are looking to buy your own home for the first time – it is obviously exciting news. However […}]
“Random Audits” are Back!
[…] The IRS announced that they are restarting the “random audits” program…In a “random audit”, you are selected at random – meaning, for no reason at all. Simply your Social Security number was picked by the IRS computer. What’s the problem, if you […]