Accounting Practices for LLCs: What Every Real Estate Investor Should Know

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In the Forums we always see both new and experienced investors inquiring about entity structuring. Should they use LLCs, and if so, should they use multiple LLCs? The end goal is usually liability protection and anonymity, the latter of course being difficult to achieve. I tend to find it somewhat disturbing that investors will go through the […] View the full article: … Read More

What a Recent Tax Court Case Can Teach Business Owners About Surviving an IRS Audit

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The classic deductions such as professional licensing fees, home office, cell phone, internet, and mileage that all business owners salivate over were contested in a recent Tax Court case. Not because the taxpayer took an aggressive position, but because the taxpayer couldn’t support hardly any of the deductions she took. I have conversations with my clients that […] View the full article: … Read More

The Step Every Entrepreneur Should Take BEFORE Hiring New Employees

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I have missed my deadline for writing articles, let’s just say, a few times. I know, I know—it’s terrible! And so to mitigate that issue, I began scheduling my writing time in my calendar—first a writing session time, then a proofreading time, and then a submission time. That’s great in theory. It’s supposed to be […] View the full article: … Read More

What Investors Should Know About Qualifying As a “Real Estate Professional” For Tax Purposes

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My investor clients like to ask about qualifying for the real estate professional status, which allows the deductibility of passive losses against ordinary income on tax return without limits. There is much confusion surrounding the real estate professional status, especially in what can and cannot count toward the hour requirement. To meet the real estate […] View the full article: … Read More

The One Thing Every Real Estate Investor Should Do Each Morning

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As a real estate investor, it’s difficult to find time in the day for all of the things that need to be done. From managing your properties and portfolio to handling other personal and professional obligations, your schedule is busy. We get it. However, there’s one thing that you absolutely have to make time for […] View the full article: … Read More