Every tax season I get the same question from my realtor clients, “How can I set up my books and records so that it reduces the time you have to take preparing my return?” This post addresses that question and […]
IRS pushes the federal individual tax filing deadline to May 17. Maryland state income tax deadline is set for July 15. The Internal Revenue Service announced on Wednesday, March 17, it is postponing the country’s federal, individual, tax-filing deadline until May […]
I recently attended a tax update webinar. Below are the highlights I’d like to share with you. Self-employed and others who are required to file estimated tax payments remember that the due date for the first and second quarter of […]
Want to take me to lunch? The IRS issued final regulations implementing provisions of the law known as the Tax Cuts and Jobs Act (TCJA), P.L. 115-97, that disallow a business deduction for most entertainment expenses. The regulations also clarify […]
Real estate agents can possibly achieve tax savings by electing to be taxed as a Subchapter S Corporation under the Internal Revenue code. A Subchapter S Corporation generally does not pay income tax. The earnings flow through to your personal […]