by Pedro Gonzalez, CPA | Feb 20, 2022 | Real Estate, Tax Strategies
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 can solve this cash shortfall problem and reap big...
by Pedro Gonzalez, CPA | Jan 18, 2022 | Real Estate Investing, Tax Strategies
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...
by Pedro Gonzalez, CPA | Jan 14, 2022 | Real Estate Investing, Tax Strategies, Uncategorized
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...
by Pedro Gonzalez, CPA | Jan 9, 2022 | Tax Strategies
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 the rich do, building assets and legally paying little to no taxes,...
by Pedro Gonzalez, CPA | May 26, 2021 | Tax Advantages, Tax Strategies
You take Bill, your best customer, to the local country club and treat him to 18 holes of golf. The golf produces a zero deduction. However, if you take your employees and their spouses and children to the local country club, where they play golf and tennis; swim;...
by Pedro Gonzalez, CPA | Nov 11, 2020 | Tax Strategies
With the COVID-19 pandemic still going on, you may be spending more time working from your home office. You may have taken some extra rooms for your business use. Is that okay? Section 280A(c) states that you may claim a home office based on the portion of the...
