Fremont, California
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Jul. 3, 2008
You can deduct vehicle costs on your taxes using actual vehicle expenses or the standard mileage rate. The STANDARD RATE may be more beneficial for individuals who have a lot of mileage and low vehicle costs. Using the ACTUAL EXPENSE method is only better
Jun. 25, 2008
Generally, an item that is considered a gift is also considered to be an entertainment expense.
If you give an item that is intended to be used at a later date (like tickets to a performance or event), it is usually considered a gift.
Sometimes yo
Jun. 18, 2008
Selling property to your own S-Corporation can be beneficial in TWO specific situations. By Selling to your own S-Corp, you can take advantage of the 2 year exclusion and the new basis on the appreciated property.
Jun. 9, 2008
If you paint your rental property or install a lock using your own labor instead of hiring a painter or a locksmith, you cannot deduct any expenses for labor. But if you hire a non-owner (like your child or possibly your spouse), the costs are deductible
May. 22, 2008
Losses incurred because of a casualty, disaster, or theft can be tax-deductible.
May. 16, 2008
Summer is coming around, I'm starting to plan my next vacation...
...and I am going to share a little secret.
You might have tried all the tricks in the book, but I'm sure you haven't tried making your VACATION TAX DEDUCTIBLE.
May. 9, 2008
In this blog, I am focusing particularly on what to do when the Points are Paid by the Buyer. For Points Pre-Paid by the Seller, read my previous blog...
May. 8, 2008
In this blog, I am focusing particularly on what to do when the Points are Pre-Paid by the SELLER during a property SALE.
May. 7, 2008
If you used a portion of your home exclusively and on a regular basis as your principal place of business, then the expenses for your home office are considered deductible.
Apr. 24, 2008
tax tips, real estate professionals
Apr. 14, 2008
Pay your kids to do some of your work (like on properties you own), and put the money in IRA accounts for them.
Apr. 11, 2008
startup expense tax tip for real estate professionals
Apr. 1, 2008
When traveling away from home on business, you may incur expenses for meals and entertainment. You can deduct 50% of meal and entertainment costs incurred when traveling locally, overnight, or long distance for your rental (business) activity.
Mar. 26, 2008
Vehicle expenses paid exclusively for rental activity can be fully deductible. Using the actual expense method instead of the standard mileage rate might be more beneficial if your vehicle incurred a lot of expenses during the year.
Mar. 14, 2008
Material Participation in Real Estate Results with Non-Passive Treatment of Rental Income. This is the way to save that extra money that Uncle Sam has been keeping his eye on...
Mar. 10, 2008
As a rental property owner, there are no tax benefits to making principal payments for your property - you only get to right off the interest. As a result, many people get taxed on their income from rental properties, and if you are like me, you don’t w
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