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Help Children Invest and Save, Early.
Investing for the Future. Time is one thing that isn’t fungible, it is finite. In the world of investing and building wealth, one of the most common things said is “I wish I would have started sooner”. We all have heard about the power of compounding. For example investing $100 in the beginning of 1990…
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REIT Dividends & PTP Income Qualifying for 20% Deduction
The Tax Cuts and Jobs Act, and relative proposed regulations issued in August 2018, has provided for a 20% business deduction relating to Qualified REIT (Real Estate Investment Trust) and Qualified PTP (Publicly Traded Partnership) income. Under Proposed Regulations 1.199A-3(c)(2)… Read More REIT Dividends & PTP Income Qualifying for 20% Deduction
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Understanding Passive Activity Income and Losses
When dealing with High Net Worth Individuals (“HNWI”) and tax compliance you gain experience with the concept of passive activity income and losses. The best investors, long-term, invest in carefully structured businesses that allow them to enter and exit positions with the highest after-tax return. In this post we will cover: What constitutes an activity…
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The Tax Implications of Having an Airbnb
The Tax Implications of Having an Airbnb At this point, I think everyone has heard of “Airbnb”. You have a spare house or room that is dormant. Airbnb allows you to rent your spare space to travelers for a steady, or hopefully steady, inflow of cash to cover whatever expenses you have. As a CPA…
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The Tax Cuts and Jobs Act Impact on Depreciation
The Tax Cuts and Jobs Act (“TCJA”) changed the way business can recover their costs for the acquisition of qualified property. This was done by changing to regulations in the Internal Revenue Code (“IRC”): “Bonus Depreciation” “Sec 179 Expense” Bonus Depreciation Pre-TCJA laws permitted a depreciation deduction for qualified property placed in service during the…