When it comes to real estate investing, there are a lot of different strategies you can use. If you’re looking to defer taxes on the sale of a property, you may want to consider using a 1031 exchange. Here’s what you need to know about what a 1031 exchange is and how it works—as well as a drop and swap 1031.
What is a 1031 exchange?
A 1031 exchange is a special type of real estate transaction that allows investors to defer paying capital gains taxes on their property. Read More»
Small business tax returns are more complex than individual tax returns, and small business returns, therefore, require additional documentation. If you run a small business, you’ll likely need these documents when preparing your business’s tax return.
1099 Forms
Form 1099 is used by businesses that hire contractors, and your business could have one or more of these to file. There are a few different specific versions of the form, but they all fall into the same 1099 series. Read More»
Are you a parent or guardian who can claim the Child Tax Credit on your federal income tax returns? Then you likely have begun receiving this tax credit in the form of monthly payments beginning in July 2021.
These advance payments are new for most Americans, so you probably have many questions about how this works. To help you avoid any unnecessary complications or tax bill surprises, here are answers to five important questions. Read More»
If you are a small business owner, you may lack the objectivity to recognize areas where you need to improve operations. You might believe that everything is working fine in your business when, in fact, several factors could jeopardize its productivity and future.
Rather than risk your business’s profits and success on your own shortsightedness, you can bring in a third-party service to evaluate its operations for you. You can take advantage of what professional business consulting services can offer to you and your business. Read More»
The need for tax preparation services continues to increase by the day. Most taxpayers now appreciate the need for professional assistance. If you are still wondering whether you need to engage a tax professional, this piece will open your eyes.
Organizing your tax records and filing returns can be a daunting process. Apart from frustrating you, it will also occupy your mind too much and affect your ability to focus on other important business operations. Read More»
