Are you a small business and own a S Corp? Are you wondering what is S Corp Tax Deadline 2021-2022? We will be discussing what is the S Corp deadline for 2021-2022 (Form 1120S) with or without extension. S Corp is a passthrough entity and passes all of its income, losses and credits by issuing…
Tax Advantages of Rental Property (A Must Read!!)
Main tax benefits of owning rental property include reducing or eliminating taxable income by offsetting Rental Income with deductions such as operating expenses & depreciation
Avoiding Self Employment Tax, FICA(Social Security & Medicare) Taxes
Ability to Defer Capital gains tax and depreciation recapture tax when Landlord or Real Estate investor conducts a 1031 tax deferred exchange.
Step Up Basis when Real Estate Properties are Passed from one generation to Another.
Tax Benefits can only be maximized if you keep good records and a paper trail for each Rental Real Estate Property.
Rocket Lawyer Review ( Honest & Practical Review)
There are dozens of companies online that can help you incorporate your business as a C Corp, S Corp or a LLC. But there are very few companies that provide comprehensive legal services that include Contracts, Real Estate(Landlord & Tenant Documents) and Estate and Living Trust Services. Furthermore, Rocket Lawyer offers “Ask My Lawyer” document…
Will Real Estate Prices Drop in 2022?
When the Covid 19 Hit, everyone thought the Real Estate Market will tank. It did slow down for bit till buyers were uncertain about the future. Once things started opening up Real Estate started going up. Its been going up in 2019, 2020 and 2021. Many of Real Estate Investors and home buyers are wondering…
What Small Business Expenses Are Tax Deductible in 2021-2022?
When you are a small business owner you spend money on many things to keep your business afloat. Many of these expenses simply sustain your business, and other expenses may help you grow your business. What Small Business Expenses are Tax Deductible in 2021-2022?? This is an excellent question and we will answer this question…
Reasonable Salary for S Corp Owners
As an accountant I hear this question a lot ” What’s Reasonable Salary for S Corp Owners? “I advice small business owners everyday “It Depends”. Its sounds like a vague answer, but it is very true as reasonable compensation is based on various facts and circumstances. Many Small Business Owners setup S Corp to help…
7A Loans: The Pros and Cons You Should Know About
In a survey executed by the Small Business Majority, a minute number of small businesses received funding through the Paycheck Protection Program with only 30% receiving the requested amount. Hence, many Small Business Owners were forced to start looking for high interest Loans to keep their business Afloat. Many of them turned to SBA for…
California Sellers Permit: Helpful Guide
State of California Sellers Permit is one of the many requirements when you are either starting or purchasing an existing business in California. When you start a business, you need to meet City, County and State Requirements such as City License, Fire Department and Health Permit. In this articles we will be discussing all aspects…
When LLC Tax Due?
Many Tax Payers form Limited Liability Company (LLC) in order to better protect them selves as LLC provides Limited Liability. But LLC comes with many requirements that must be followed in order to keep LLC compliant with state and federal laws. If you own a LLC, Do you know, ” When LLC Taxes Due?” LLC…
C Corp and S Corp Differences (Ultimate Guide)
Business owners in US has many choice of entities such as C Corp, S Corp, LLC, General Partnership or Sole Proprietorship. Many Business owners wonder what is best for them. If you are looking to pick either a C Corp or S Corp, its important to know “C Corp and S Corp Differences.” While both…
