DFW Realtor Tax Advisors: Deductions For Realtors

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DFW Realtor Tax Advisors: Deductions For Realtors

As part of our continued efforts to help realtors save on their taxes, we’ve compiled a list of some more commonly used deductions. (DFW Realtor Tax Advisors: Deductions For Realtors) Since realtors are self-employed sole proprietors, they are eligible for the same deductions as other self-employed business owners. Allowable tax deductions you need to know Take advantage of every tax … Read More

Flower Mound Tax Planning: Save For Retirement Now

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Flower Mound Tax Planning: Save For Retirement Now

If you’re self-employed or own your own business with or without employees, you might want to look into opening a Simplified Employee Pension Individual Retirement Account (SEP IRA) or a Savings Incentive Match Plan (SIMPLE). These tax-advantaged retirement plans can save you big! For starters, both allow you to contribute pre-tax dollars, reducing your taxable income: SEPs’ benefits include minimal setup and … Read More

DFW Tax Savings: Small Business Tax Tips to Make Filing Less Stressful

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DFW Tax Savings: Small Business Tax Tips to Make Filing Less Stressful

The economic climate is still reeling from the COVID-19 pandemic. Some 12% of small business owners say financial stability is the most important challenge for them, beaten only by loss profits and attracting new customers. No surprise then that taxes—a bill that arrives at the end of each financial year—is the second-most important problem for small businesses in the US. Managing your taxes for … Read More

Flower Mound Tax Pros: How Charitable Planning Can Save You Money

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Flower Mound Tax Pros: How Charitable Planning Can Save You Money

Since the 2017 Tax Cuts and Jobs Act, donors should contemplate whether charitable planning will provide an immediate or future benefit. (Flower Mound Tax Pros: How Charitable Planning Can Save You Money) With that said, here are five charitable planning options that can save you money on taxes in 2019 and beyond: 1. Donor-Advised Fund (DAF) A donor-advised fund is … Read More

Flower Mound Tax CPA: Don’t Let Your Investments Trigger an Audit

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Flower Mound Tax CPA: Don't Let Your Investments Trigger an Audit

The IRS typically narrows in on filers with huge deductions relative to their income, business filers with extra or suspicious write-offs, those claiming earned income tax credit or anything unusual. While investing is not the most common trigger for an audit, it still happens. (Flower Mound Tax CPA: Don’t Let Your Investments Trigger an Audit) One of the easiest ways … Read More

Real Estate Tax Experts: Property Tax Tips

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Property tax is a tax on real estate and sometimes other property which you own. Local governments typically assess property tax. The amount of property tax you owe is largely based on where the property is and how much it is worth. Calculating your property tax Property tax is typically determined by multiplying the value of the property by a tax … Read More