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1031 exchange

How to Use a 1031 Exchange to Help with Your Investment

Are you in the business of buying and selling real estate? Tired of paying out your gains at tax time? Let us introduce you to the 1031 exchange!

Usually, when you sell a business or investment property and have a gain, you have to pay a tax on that gain at the time of the sale. With a 1031 exchange there is an exception that allows you to postpone paying taxes on that gain if you reinvest gains into a similar property in a like-kind exchange.

To help you save at tax time and reinvest your gains we will explain key aspects of a 1031 exchange, who qualifies for a 1031 exchange and what a like-kind exchange involves.


high tax refund

Why a High Tax Refund Doesn’t Payoff

Why put off to tomorrow what you can have today? A high tax refund at year’s end can be a poor choice for many, because inflation devalues a government refund of your own money. Aside from the threat of scams, there are four main reasons to beware of high tax refunds.


IRS Audit Triggers

IRS Audit Triggers and How to Avoid Detection

Everyone dreams of paying no taxes (or claiming a significant sum of cash in the form of deductions), but filing taxes is rarely as enjoyable as Christmas. That becomes especially true when an IRS agent comes knocking at your door and accuses you of tax evasion. Listed below are a few techniques that you can use to avoid key IRS audit triggers with 007-esque stealth.


Contractor Accountant Examining Blueprint

Your Blueprint to Financial Success – Hire the Right Contractor Accountant

Opening up a business as an independent contractor can be an exciting ordeal. After many long years of exams, countless apprenticeships and some real world experience you finally get to call your own shots. You get to take the projects you want to do and, at the end of the day, you have a business that you can call your own. It’s a great job, but like any small business owner, being an independent contractor carries a certain amount of financial responsibility. Most contractors choose to hire out-of-house accountants to help them manage their finances. Though it is a perfectly acceptable method of financial management, not all accountants are equipped to handle your situation. Here’s how a contractor accountant can help meet your very specific accounting requirements.


Simple Tax Deductions You Need to Know About

The 40 Simple Tax Deductions You Probably Don’t Know About

Everybody seems to know what tax deductions are but, if you were to ask them what deductions they qualify you’ll more than likely be met with silence. With the constant shift of government legislation year after year it can be difficult to define what you qualify for (unless you’ve been following that legislation throughout the year and that can be time-consuming). We’re guessing you’re already busy enough as is so, we’ve put together a list of the 40 simple tax deductions you could qualify for this year. Simple tax deductions that, we hope, will help save you quite a lot of money.


3 Small Business Tips that Will Lay the Path to Saving Money in 2015

These 3 Small Business Tips For Landscapers Could Save You Thousands this Season

While winter may be a bit of a down season for landscapers in terms of physical work but, that doesn’t mean it has to be entirely unproductive. It’s tax season which means you’re probably working together with your office manager or your accountant to make sure your taxes are filed correctly. Regardless of who does your taxes, it is still a relatively painful process but, there are ways to alleviate some of the financial stress associated with filing. Listed below are some of our money-saving small business tips for landscapers that you can use this tax season.


vehicle tax deductions

Deduct the Batmobile: Vehicle Tax Deduction for Real Estate Agents

For real estate agents, their vehicle is used much more than the office. Many could even stretch that to say, “The only ones in the car more than us are Dale Earnhardt Jr. and truck drivers. Running house to house and office to property, the amount of driving for work that real estate agents do is incredible, that’s why vehicle tax deduction for real estate agents is so important.

Because real estate agents are considered self-employed, independent contractors they are entitled to certain tax deductions and the vehicle tax deduction for real estate agents is the big one. It is important to remember it’s just for gas mileage. Because of the expected business use, vehicle tax deductions for real estate agents also include insurance, parking, repairs, maintenance, license, loan interest and depreciation. To maximize your business profits you need to be aware of the tax breaks and deductions, but first let’s outline available vehicle tax deductions for real estate agents.


outsourced accounting for small businesses

Outsourced Accounting for Small Business Will Help You Edge Past Your Competitors

When you think “outsourced accounting” you might think yet another industry has abandoned the United States of America for cheaper prices abroad. Cheaper prices that leave you, the customer, sitting on a phone line for hours wondering, “Why can’t I just speak to my accountant face-to-face? Like in the good old days!” Luckily, outsourced accounting has nothing to do with exporting accounting resources to other countries and has everything to do with giving you the best accounting services money can buy. Here’s how a bit of outsourcing could save your small business.


obamacare and taxes

Obamacare and Taxes: 2014 Tax Year’s Big Question

The big question of the 2014 tax year is, how will we be effected by Obamacare and taxes?

Do you understand the effect Obamacare has on your taxes? If you aren’t up to date on the health insurance situation, your tax return could be at risk.

Obamacare (the Affordable Care Act) requires almost all U.S. citizens and legal residents (and their dependents) to have health insurance for the entire year (starting January 1, 2014). For all those without health insurance there will be a tax fee during 2014 and beyond. This fee will be paid when filing for your tax return.

Let’s dive into Obamacare and taxes.


filing taxes after divorce

Filing Taxes after Divorce for Personal Exemptions

Jeeze, as if divorce wasn’t stressful enough, now tax season is almost here. If you haven’t taken the time to consider how filing taxes after divorce will impact you, it’s time to start thinking about it. When there is a divorce or separation, who is the custodial parent? And, is the custodial parent the one claiming the child as a dependent?  For most cases, the qualifying dependent can be distinguished using the residency test (as discussed in our last blog). Sometimes, the noncustodial parent can have the child as an exemption when filing taxes after divorce, and here is how.


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