Tax Credits & Deductions

Unlock a Stress-Free Tax Season: Pro Tips to Keep Your Sanity Intact

Key Points Table of Contents Tax season can be a stressful time for many. The looming deadlines and complex rules can leave you feeling overwhelmed. But fear not; there are ways to make this tax season a lot more manageable. In this post, I’ll share some valuable tips to help you navigate through tax season […]

Unlock a Stress-Free Tax Season: Pro Tips to Keep Your Sanity Intact Read More »

Insider Insights: How to Optimize Your Rental Property Portfolio for Tax Efficiency

Key Points Table of Contents Are you looking to maximize the financial potential of your rental property portfolio and minimize your tax obligations? Understanding how to optimize your rental property investments for tax efficiency can make a significant impact on your bottom line. Effective tax planning in real estate investment is crucial for both short-term

Insider Insights: How to Optimize Your Rental Property Portfolio for Tax Efficiency Read More »

A Real Estate Professional Illustration

Real Estate Professional Status For Tax Purposes: How to Qualify

Key Points Table of Contents Are you a real estate professional? Maintaining real estate professional status (REPS) can provide relief from the 3.8% net investment income tax and allow you to deduct rental property losses against ordinary income. However, there are some caveats to being a real estate professional, especially in the participation and documentation

Real Estate Professional Status For Tax Purposes: How to Qualify Read More »

Home Office Deductions and Accountable Plans

Key Points Table of Contents Over the past few years, the business world has seen a major shift to a remote workforce. Pre-pandemic, 17% of the US workforce held remote positions. This number jumped up to 44% during the pandemic, with many employers continuing to support a remote workforce. While you may have never heard

Home Office Deductions and Accountable Plans Read More »

Maximize Homeowner Tax Benefits: 8 Deductions, US Tax Made eZ

8 Tax Deductions for Homeowners: Maximizing Your Breaks and Benefits

Key Points Table of Contents Owning a home can be expensive. Rising interest rates and inflation push up purchase prices, so tax time is the perfect opportunity to put hard-earned money back into your pocket for certain home expenses. Part of the American Dream is owning a home, which is why the government heavily incentivizes

8 Tax Deductions for Homeowners: Maximizing Your Breaks and Benefits Read More »

Tax Strategies and Concept Illustration

7 Tax Strategies & Concepts: The Art of Reducing Tax Liability

The Key Points Table of Contents Filing your taxes can seem overwhelming, especially with dozens of decisions. However, taking the time to analyze your tax situation and find useful tax incentives is important to reduce your tax bill when it comes time to file. Here are 7 common tax strategies and concepts you should know

7 Tax Strategies & Concepts: The Art of Reducing Tax Liability Read More »

Understanding Hobby Income and Losses: Tax Advice

Smart Tips on Differentiating between Hobby and Business Income

Key Points Table of Contents Are you considering turning a hobby into a full-fledged business? If so, it’s important that you understand hobby income and loss regulations to avoid the IRS nixing your deductions and assessing you back taxes. In this article, we’ll cover everything you need to know about hobby income and loss, including

Smart Tips on Differentiating between Hobby and Business Income Read More »