Blog - The Real Estate CPA

Understanding Low-Income Housing Tax Credits

By Giana Caliendo

February 28, 2019

Tax Strategies

The Low-Income Housing Tax Credit (LIHTC) is a complex and very important tool that Congress enacted to encourage private development of affordable housing. LIHTC has been a key component of preserving and expanding the number of affordable...

The Secrets To Qualifying As A Real Estate Professional

By Giana Caliendo

February 14, 2019

Business Advice

One of the most popular questions we get from our clients is: “do I qualify as a real estate professional?”

How To Eliminate Taxes On The Sale Of Your Home

By Giana Caliendo

February 07, 2019

Tax Strategies

Thinking about selling your personal residence, but afraid about the tax you may have to pay? In most cases, you do not usually pay taxes when you sell your personal residence. If you have a gain on your home, I’m sure you are thinking: “well I...

What Does It Mean To Get An Extension On Your Taxes?

By Giana Caliendo

January 31, 2019

IRS, Tax Strategies, tax extension

Many people think a tax extension is going to solve all their problems. Your CPA tells you they are extending your return – in your mind, you may be thinking “great, I didn’t have the money to pay for my taxes on 4/15 anyways” or “I didn’t have...

What's the Difference Between a Tax Credit and a Tax Deduction?

By Giana Caliendo

January 24, 2019

Tax Strategies

Tax credits and tax deductions are not the same. They both help in reducing your tax liabilities, but in different ways. Tax credits provide a dollar-for-dollar reduction of your income tax liability. For example, if you have a tax credit of...

What Documents Do I Need to Provide my Tax Preparer?

By Giana Caliendo

December 20, 2018

Business Advice, Tax Strategies

Take the stress out of filing your taxes by hiring an accountant to prepare your return!

What is a Schedule K-1 Form?

By Giana Caliendo

August 30, 2018

Business Advice, form 1041, form 1065, form 1120s, partnership tax, schedule k-1, Tax Strategies, tax preparation

What is a Schedule K-1 Form? Schedule K-1 is a tax form you receive from entities such as Partnerships, S corporations, Trusts and Estates. Schedule K-1 reports income, deductions, and credits received from an entity that should be recorded on an...