by Pedro Gonzalez, CPA | Oct 7, 2022 | Tax Planning & Preparation, Tax Strategies
At first glance, the corporate tax rules for forming an S corporation appear simple. However, they are not. You are already aware the tax code is full of hidden rules. The IRS knows these rules and you need to know them, too. In this article, we do two things: We help...
by Pedro Gonzalez, CPA | Jul 15, 2022 | Business, Tax
Self-employment taxes are the same as payroll taxes for the self-employed and it is used fund Social Security and Medicare. All individuals with self-employment income must pay self-employment taxes, regardless of their age. The self-employment tax is paid on your net...
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...
