Holding Real Property in a Corporation: Good or Bad Idea?
Tags: QuickBooks Bookkeeping, real estate taxes, Sarasota CPA, Tax Planning As the real estate market has cooled off in many parts of the country, investing in real property may seem wise in the long run. But taxes can be a significant concern. C Corporation Owning...
Rental Property Owners, Plan Your Passive Activity Losses for Tax-Deduction Relevance
Tags: QuickBooks Bookkeeping, real estate taxes, Sarasota CPA, Tax Planning In 1986, lawmakers drove a stake through the heart of your rental property tax deductions. That stake, called the passive-loss rules, causes myriad complications that now, 37 years later, are...
SECURE 2.0 Act Creates New Tax Strategies for Required Minimum Distributions
Tags: QuickBooks Bookkeeping, Retirement tax deductions, Sarasota CPA, Tax Planning As you are likely aware, if you have an IRA or other tax-deferred retirement account, you must start taking required minimum distributions (RMDs) once you reach a certain age. SECURE...