Section 179 of the IRS tax code allows businesses to deduct the full purchase price of qualifying equipment and software bought or financed during the tax year, up to a specified limit Often Confused with “Bonus Depreciation,” albeit there are different benefits
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The IRS Fresh Start Program, isn’t exactly a ‘new’ program given how long it’s been around. First introduced in 2011, when the IRS implemented a series of significant operational policy changes collectively known as the “Fresh Start” initiative” offers taxpayers an opportunity
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An open and transparent list of fees and offerings is important to understand your investment in working with me, and thus, you can anticipate the following fee schedule starting with tax advisory services, followed by tax resolution services. Initial meeting to
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For both new and experienced rental property owners, navigating the complexities of real estate lease agreements can be challenging, and even seasoned professionals can make mistakes. Some of these mistakes can be painfully expensive as was recently demonstrated in a Wisconsin real
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As of late 2024, employees generally can’t expense (write off) work related expenses and cost nearly to the level of business owners. Some exceptions do apply, including if the use of a home office is for the convenience of the employer. Sadly,
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Most new as of 2024 businesses are required to file within 90 days of registering the company Most new businesses starting January 1st, 2025 are required to file within 30 days of registering the company Other businesses have until the end of
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Regarding the proposal to tax unrealized capital gains— A recent thread discussing this within a FB group I follow had a comment that the tax on property is akin to the proposal of taxing unrealized capital gains and I pointed out the
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Updated September 2024 The rise of short-term rental platforms, including Airbnb and Vrbo has changed and revolutionized the real estate market, giving rise and opportunity to a potentially lucrative sector (along with many pitfalls): short-term rentals. For many investors, the appeal of
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Common Business Owner Mistakes – I commented recently on a few social posts seeking guidance on tax treatment and entity questions in general. I thought it may be helpful to make a post of some of the biggest mistakes I see business
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California Governor Gavin Newsom on recently signed a bill into law requiring employers to provide notice to employees that they can consult and seek the advice of an attorney for guidance about their rights under the state’s workers compensation law. Under A.B.
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