A good rental property strategy will not only build an incredible long-term and sometimes immediate tax strategy, it will build wealth for your future and produce consistent cash flow if done properly! Rental properties save taxes. They either produce losses you can deduct now, or they allow you to defer the gains until a future …
Short-term rentals get special tax treatment from the IRS and have significant benefits. The short-term rental rules are unique to all other types of real estate investments. You need to carefully incorporate them when tax planning. Learning how short-term rentals are taxed is crucial and our team can help you. Why Are Short-term Rentals a …
How Short-Term Rentals (Air BNB, VRBO) Are Taxed Read More »
Mid-year is an opportune time to assess our financial goals and set a clear income target for the remainder of the year. Setting a specific income goal can help you stay focused, motivated, and make strategic decisions to propel yourself closer to financial success. In this blog post, I’ll guide you through the process of …
Setting Your Income Goal – A Roadmap to Financial Success Read More »
On January 1, 2023, the Inflation Reduction Act went into effect, which offers energy tax credits when you file your tax return. These tax credits cover a wide range of home energy efficiency improvements, including equipment like air conditioners, heat pumps, and heat pump water heaters, as well as upgrades to the home envelope like …
Dave Ramsey is absolutely right in suggesting that more Americans should eliminate debt in their lives…but all debt? Heck No! There are two types of debt: ‘Good Debt’ and ‘Bad Debt’ One makes you money, while the other can destroy you financially, or at the least hold you back from your full financial potential and …
Taxpayers who claim the Earned Income Tax Credit [EITC] or the Additional Child Tax Credit [ACTC] may experience a refund hold. According to the PATH Act [Protecting Americans from Tax Hikes], the IRS can’t issue these refunds before mid-February. The IRS expects the first EITC / ACTC related refunds to be available towards the beginning …