IRS delays 2013 tax filing season
[…] When the politicians were finally done, it was already 2013. Guess what? The IRS now has to change the tax forms and reprogram their computer systems. Imagine preparing for a wedding when the bride […]
How to manage LinkedIn endorsements
[…] Problem: I started getting endorsed for seemingly random things, like “team building” or “Microsoft Office”, and it took me some time to figure out how to address the issue. So here is what I learned by trial and error. […]
Q&A: Taxes on sold investment properties
[…] If, as a result of your capital gains, your tax return will show a total balance due to the IRS of more than $1,000, you may owe the IRS an “estimated tax” payment which is due January 15th. […]
Will I get audited claiming $15,000 business income?
[…] What usually triggers audits is not how much income you claim but how much expenses you deduct against this income. For example, if your business income of $15,000 is offset with $3,000 of business expenses such […]
Who will defend you against IRS audit?
[…] This CPA lady receives her IRS audit work from an insurance company. Have you seen those $39 or $59 offers of “IRS audit insurance” from TurboTax or from your local office of some national tax chain? So what happens in reality? […]
Who fails and who prospers in Real Estate investing?
[…] I can also see numbers from hundreds of other investors. And when I see so many of them, I notice some trends. Certain things just seem to work. […]
September 15 – IRS Corporate and Partnership deadline
[…] If you do have a corporation with a valid extension, then you must file at once. Otherwise, you’ll be hit with horrible penalties. For a C-corporation, it is more than […]
No 1099 does NOT mean no tax deduction!
[…] after the session, I was approached by two ladies. They introduced themselves as former IRS agents who now retired and switched sides. They shook my hand and confirmed that, while the IRS auditors are indeed trained to […]
Taxes in December – The Year-End Tax Planning
[…] Keep in mind that certain expenses, particularly those related to rehabbing, may not be deductible until the property is rented or sold. In that case, paying the bills in December […]
Property taxes – Should I pay in December or January?
[…] This question pops up every December: should I pay my property tax bill in December or January? Well, the answer is not that easy. Let’s tackle it one step at a time. 1. Do I really have a choice? […]