Posts Tagged "deductions"

Mid-Year Tax Planning

Posted by on May 21, 2015 in Tax, Tax Planning | 0 comments

Mid-Year Tax Planning

Getting your tax return in order for 2015 The 2015 tax year is already nearly halfway through (where does the time go?). So we thought now would be a great time to remind you of some of the more important tax issues to consider when planning your return for this year. Changes to the repair and capitalization regulations There’s been an ongoing debate over the need to change the new repair and capitalization regulations – and small businesses have lost this particular battle with the IRS. The new regulations from the IRS mean you now have three possible choices for handling repairs, supplies and asset purchases. And you’ll need to make these choices annually and...

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Arranging Your Finances to Reduce Your Taxes

Posted by on Feb 16, 2015 in Accounting, Financial Freedom, Tax, Tax Planning | 0 comments

Arranging Your Finances to Reduce Your Taxes

Planning your tax year and arranging your finances may not sound like the most interesting thing you’ll do this year, but we are certain it will be much more interesting if by doing so you discover that you have less tax to pay. In an ideal world, every year you will have managed your financial affairs so that your taxes are minimized as much as possible. We realize that this can be incredibly difficult to do. It’s already February, so before you know it April will be upon us and there will be no more tax planning to do. If you can spare even an hour or two, we would encourage you to talk with us now about arranging your finances so that your taxes are not the great...

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Real estate accounting: What every landlord should know (and do) when it comes to finances

Posted by on Jul 2, 2013 in Tax | 0 comments

Real estate accounting: What every landlord should know (and do) when it comes to finances

If you’re a landlord, chances are you feel swamped on a regular basis and barely able to keep track of your renters, much less your accounts.  We’ve got some tips for you when it comes to your real estate accounting, but remember as with every small business, if you find yourself swamped you may want to ask the question of whether doing your own bookkeeping is a wise plan or an exhausting one. Either way, here are a few things you’ll want to make sure these accounting aspects don’t get missed in your real-estate world:   Keeping good records As we will talk about in our series of the top 10 bookkeeping mistakes most small businesses make, failing to keep...

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