The IRS audited your business and concluded that you misclassified some employees

The IRS audited your business and concluded that you misclassified some employees

Pedro Gonzalez, CPAMay 1, 20227 min read

Uh-no! The IRS audited your business and concluded that you misclassified some workers as independent contractors. The IRS says they are employees. You are worried—rightfully worried. 😲  If you got this wrong, the IRS will assess years of back employment…

What You Need to Know About Reverse Mortgages and the Tax Angles

What You Need to Know About Reverse Mortgages and the Tax Angles

Pedro Gonzalez, CPAFeb 20, 20229 min read

If you’re an “experienced” homeowner, age 62 or older, you may need to tap into your home equity because you are “house-rich but cash-poor.” If so, you are not the only one.   But what are your options?   You…

Your Short-Term Rental May Be Subject to Self-Employment Tax

Your Short-Term Rental May Be Subject to Self-Employment Tax

Pedro Gonzalez, CPAJan 18, 20225 min read

In recent years, advances in technology have provided multiple opportunities for taxpayers to earn additional streams of income or start a new business altogether. The “gig economy” business models (such as Uber, Airbnb, etc), haven’t solely generated opportunities for entrepreneurs…

Depreciation, Real Estate Investor’s Best Friend

Depreciation, Real Estate Investor’s Best Friend

Pedro Gonzalez, CPAJan 14, 20225 min read

Depreciation is your best fried, when you own rental property. One reason depreciation is so valuable is that, unlike deductible rental property expenses such as interest and maintenance, you get to claim depreciation year after year without having to pay anything…

Is Your Side Hustle a Business or a Hobby?

Is Your Side Hustle a Business or a Hobby?

Pedro Gonzalez, CPAJan 9, 20227 min read

  Is your side hustle a hobby? If you want more tax deductions, my advice to you is to start a business. If you want to control your financial future, start a business. If you want to make money like…

Tax Related Posts

In this section all posts are tax related

What You Need to Know About Reverse Mortgages and the Tax Angles

If you’re an “experienced” homeowner, age 62 or older, you may need to tap into…

ByByPedro Gonzalez, CPAFeb 20, 2022

Your Short-Term Rental May Be Subject to Self-Employment Tax

In recent years, advances in technology have provided multiple opportunities for taxpayers to earn additional…

ByByPedro Gonzalez, CPAJan 18, 2022

Depreciation, Real Estate Investor’s Best Friend

Depreciation is your best fried, when you own rental property. One reason depreciation is so valuable…

ByByPedro Gonzalez, CPAJan 14, 2022

Is Your Side Hustle a Business or a Hobby?

  Is your side hustle a hobby? If you want more tax deductions, my advice…

ByByPedro Gonzalez, CPAJan 9, 2022

Are S Corporations Facing Extinction?

Corporations, limited liability companies, and certain other business entities can make an election with the…

ByByPedro Gonzalez, CPAAug 1, 2021

Deduct 100% of Your Employee Recreation and Parties

  You take Bill, your best customer, to the local country club and treat him…

ByByPedro Gonzalez, CPAMay 26, 2021

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Your Short-Term Rental May Be Subject to Self-Employment Tax

In recent years, advances in technology have provided multiple opportunities for taxpayers to earn additional…

ByByPedro Gonzalez, CPAJan 18, 2022

Depreciation, Real Estate Investor’s Best Friend

Depreciation is your best fried, when you own rental property. One reason depreciation is so valuable…

ByByPedro Gonzalez, CPAJan 14, 2022

Updated PPP Rules

The new Paycheck Protection Program (PPP) law enacted with the stimulus package adds dollars to…

ByByPedro Gonzalez, CPAJan 8, 2021

Did You Miss Out On The Previous PPP Opportunities?

Did you miss out on the first two opportunities to receive your tax-free Paycheck Protection…

ByByPedro Gonzalez, CPAJan 4, 2021

Post Grid #2

The IRS audited your business and concluded that you misclassified some employees
What You Need to Know About Reverse Mortgages and the Tax Angles
Your Short-Term Rental May Be Subject to Self-Employment Tax
Depreciation, Real Estate Investor’s Best Friend
Is Your Side Hustle a Business or a Hobby?
The Importance of Buy-Sell Agreements
Are S Corporations Facing Extinction?
Deduct 100% of Your Employee Recreation and Parties
IRS Penalty; Secrets to the IRS Forgiveness Process