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May The Tax Code Be Ever In Your Favor

Jul 20, 2017

Taxation is tricky. We want to simplify it. Today we delve into the ins and out of taxation on credit cards, freebies, gifts and promotions!  “Are my Casey’s pizza box tops taxable!?” This was the question that popped into my head when I was cleaning one evening and came across 19 box tops.  That’s only […]

Above the Clouds

It’s not personal, it’s business- Maximizing Your Business Travel Deductions

Jul 20, 2017

Who wouldn’t want their travel to be tax-deductible? Here’s the basics of the rule: If your trip is primarily for your business, then it is tax-deductible. If it’s not primarily for your business, it’s not tax-deductible. Sorry, but unfortunately your personal trips are not tax-deductible for your real estate business. Well, like we said, if […]

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5 Bookkeeping Tips For New Landlords

Jul 20, 2017

You’ve just closed on a new rental property, congratulations! The entire process was arduous but you made it through to the other side even if that inspection was a bit iffy. The closing attorney hands you keys to your new place and you walk out of the closing office a new person! But the elation is […]

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QuickBooks Online vs Desktop: Which is right for you?

Jul 20, 2017

If you are in the market for an accounting solution for your business you have undoubtedly come across the popular choice, QuickBooks. Your next question, in reviewing the many variations of QuickBooks is undoubtedly: “Which is better QuickBooks Desktop or QuickBooks Online?” In the beginning of my accounting career, I used to think the answer […]

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Section 179: Long-Term Deductible Costs

Jul 11, 2017

Depreciation takes a good long time, which means waiting years for deduction opportunities. But what if you could speed that time up? Here, on behalf of The Real Estate CPA, I’ll show you how to get the most out of your taxes with Section 179 deductions! Depreciation As a landlord, your best bet for tax […]

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Top Ten Tax Deductions for Landlords

Jun 19, 2017

Real estate investors are always asking what expenses landlords can deduct. Because the answer to that question can quite literally be endless, we often tell our clients to record everything. For those expenses that our clients are unsure about, we ask them to create an “ask my accountant” category or account in their bookkeeping solution which […]

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Accounting Hacks for Small Landlords

Jun 14, 2017

Having a well-designed accounting system sets your real estate venture up for success. Here, I share some tips and tricks to set yourself up well when accounting for your rental properties. Create a Foundation for Success Without a strong foundation, your house will collapse. In the case of accounting, your foundation is your set of […]

May 179d-min

179D: Energy Efficient Upgrades for Tax Deductions

Jun 2, 2017

Anyone who owns property wants to shell out as little to the IRS as possible come tax time. Do you also want to go a little green? Maybe reduce your month to month energy costs too (always, right)? The 179D tax deduction was made for you! Here, the real estate tax experts at The Real […]

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Top Ten Tax Mistakes Real Estate Investors Make

May 20, 2017

The tax code is so darn complicated that mistakes are bound to happen. In most cases, folks who are using big box software brands to self-prepare their tax returns feel that the software adequately meets their needs. But boy do things change once one enters the world of alternative asset investing, especially when it comes to […]

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Strategies to Use Suspended Passive Losses from Rental Real Estate

Feb 19, 2017

If you have a rental portfolio, there’s a good chance that you have passive losses. If you’re above a certain income threshold, you likely have suspended passive losses. And if you’re not using a CPA well-versed in real estate taxation, you’ve probably been told that there’s nothing you can do about these suspended passive losses.