by Pedro Gonzalez, CPA | Feb 15, 2018 | Real Estate, Tax Advantages
In December of 2017, the Tax Cuts and Jobs Act further extended the benefits of investing in real estate by introducing a new “qualified business income” (QBI) deduction under IRC Section 199A that further reduces net rental real estate income by up to 20%. We have...
by Pedro Gonzalez, CPA | Feb 1, 2018 | Business Planning, Tax, Tax Advantages, Tax Planning & Preparation
Finally, lawmakers did the right thing by increasing the luxury auto depreciation limits on business cars. The old luxury limits were unrealistic, punitive, unfair, and discriminatory against any car that cost more than $15,800. The new limits don’t create parity in...
by Pedro Gonzalez, CPA | Jan 25, 2018 | Tax Advantages, Tax Planning & Preparation
You may be thinking when you see the 21 percent tax rate for the C corporation, this is the best choice of entity for your business operation. In addition, when you find yourself in the out-of-favor group for the 20 percent deduction for S Corporations, you naturally...
by Pedro Gonzalez, CPA | Jan 11, 2018 | Cash Flow, Real Estate, Tax Advantages
Cost segregation breaks your real property into its components, some of which you can depreciate much faster than the typical 27.5 years for a residential rental or 39 years for nonresidential real estate. When you buy real property, you typically break it into...
by Pedro Gonzalez, CPA | Nov 17, 2017 | Entrepreneurship, General Business, Tax Planning & Preparation
Discover Four Benefits of the Safe Harbor Expensing Rules For 2018, you can elect the de-minimis safe harbor to expense assets costing $2,500 or less ($5,000 with audited financial statements or something similar). The term “safe harbor” means that the...