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Articles

• Real Estate Agents, Are License Training & Exam Fees Deductible? In this article, we’ll why training costs are not deductible when calculating a real estate agent’s taxable income. Posted May 23, 2019
• Proving your Deductions, Easy Recordkeeping for Real Estate Agents A look at the two primary reasons real estate agents lose deductions and pay more tax than they should. Posted May 20, 2019
• Contractor or Employee? A Confusing & Dangerous Question The way you classify workers can have a significant impact on the bottom line of your business. Employee? Independent Contractor? Find out now. Posted May 14, 2019
• Real Estate Agents & Self-Employment Tax Real Estate Agents are self-employed – independent contractors in business for themselves, responsible for paying their own taxes. Posted May 06, 2019
• I’m Self-Employed. Can I Deduct My Spouses Health Insurance Premiums? When it comes to deducting a spouse’s health insurance via the self-employed health insurance deduction, enough loose interpretation exists to confuse professionals & taxpayers alike. Posted Jan 29, 2019
• 2018: Major Business Tax Changes Big changes in the TCJA! Here are the changes that are impacting businesses and business owners. Posted Dec 18, 2018
• Is Your Real Estate Business a Hobby? Avoiding the Hobby Tax-Trap Are you a real estate agent with a business or a hobby? You should nail that down. Posted Dec 06, 2018
• What are Statutory Nonemployees? Are you an employee? Indepent contractor? The answer to this question has a major impact on your bottom line! Posted Dec 03, 2018
• 2018 Tax Changes for Individuals & Planning Tips Our guide to the tax law changes that will impact most taxpayers in 2018 (and beyond)! Posted Nov 28, 2018
• No Proof - No Deduction, An Easy Way to Track Mileage For Real Estate Agents & Small Business Owners No proof, no deduction. A three-step process for tracking mileage to substantiate your tax deductions. Posted Oct 04, 2018
• Will My Service Business Qualify for the 20% Income Deduction? I own a small business, do I qualify for the 20% income deduction? Make less than $157,500? Then, YES! Posted Sep 27, 2018
• I’m a Real Estate Agent, Do I Qualify for the 20% Income Deduction? The vast majority of self-employed real estate agents will qualify for the 20% Income Deduction! Here's how. Posted Sep 14, 2018
• Real Estate Agents: What Auto Use is Deductible? A Lot More if You Have a Home Office! The auto deduction is a real estate agent’s largest tax deduction. We show you how you can make the most of this deduction. Posted Mar 30, 2018
• Real Estate Agents, the #1 key to maximizing your tax deductions is your home office Maximum tax deductions for real estate agents start with having a qualified home office. This article explains the "Why?" and "How?" of setting up a home office. Posted Mar 12, 2018
• Grow Your Business, Invest Your Minutes Want to grow your business? Want to increase profits? Then, invest your minutes in your business. Don’t spend them. And stop wasting them! Posted Feb 28, 2018
• Five Keys to Building a Successful Business After working with businesses for 20+ years, we noticed that successful businesses have 5 things in common. Posted Feb 19, 2018
• HOA Electing Section 528 Test, Does your HOA qualify for Form 1120-H? What is section 528 and how does it impact your HOAs ability to file Form 1120-H? Posted Feb 07, 2018
• Who Must File Form 1099-MISC? The vast majority of businesses and organizations are required file 1099-MISC Forms when they make payments that require Form 1099-MISC. Posted Jan 17, 2018
• Does your HOA qualify for Form 1120-H?; HOA No Private Inurement Test Does your HOA pass the "no private inurement test"? What the heck is "private inurement"? Posted Jan 08, 2018
• The 1099 Perjury-Trap, The Not-So-Secret Penalty Escalator Explaining the perjury statement and how the IRS uses it to assess other penalties. Posted Dec 28, 2017
• How to Use The Tax Cuts and Jobs Act to Reduce Your 2017 Tax Bill (Updated) Strategies for using the Tax Cut and Jobs Act to minimize your 2017 taxes. Posted Dec 20, 2017
• The HOA Exempt Function Test The Exempt-Function test is one of the tests that help determine whether a Homeowners Association qualifies to file Form 1120-H. We explain this test in detail. Posted Dec 18, 2017
• Do HOAs Need to File a Tax Return? Do HOAs need to file a tax return? YES! In this article we'll clarify some of the confusion associated with HOA tax reporting. Posted Dec 09, 2017
• Small business owner, how much do you need to break even? We show you how to determine how much you need to charge for your business to break even. Posted Nov 27, 2017
• Small Business Breakeven Reality Check - Hourly Pricing Version Our small business breakeven spreadsheet can help you determine how many customers you need and what you need to charge! Posted Nov 27, 2017
• How to cut taxes and not go broke(r) We show you how cuts in individual tax rates will impact tax collections. Posted Nov 22, 2017
• Does My Church Need to File Form 1099-MISC? Here's how to find out if your church needs to file a 1099-MISC with the IRS. Many do, but don't. Posted Nov 13, 2017
• Does My HOA Need to File Form 1099-MISC? We discuss the most common forms of payment HOAs make that require Form 1099-MISC; Rents and Nonemployee Compensation Posted Nov 06, 2017
• How to Determine Your HOA’s 1120-H Exempt Function Expense Percentage In this article we will focus on test number three, Exempt Function Expense, to help determine whether an HOA can file Form 1120H. Posted Oct 03, 2017
• Form 1099-MISC Noncompliance (Can Literally Destroy Your Business) This article will discuss the tax gap, why small business is in the IRS crosshairs, and the steps - including LARGE penalties – to increase compliance. Posted Sep 22, 2017
• What is HOA Exempt Function Income? This article will help your board members develop this understanding and correctly calculate your HOA’s exempt function income percentage. Posted Sep 20, 2017
• Not Understanding Form 1099-MISC is Risky Business All businesses, nonprofits, and government agencies must file Form 1099-MISC when they make payments that require it.  Posted Mar 01, 2017
• The Five C’S of The Customer Experience The Customer Experience is the second pillar of business success and has five key components: The Customer, Competence, Character, Consistency, and Communication. Posted Feb 09, 2017
• The Trust Bucket Each customer has a trust bucket you must fill to transform them from mere transactional consumers to passionate advocates. Posted Jan 13, 2017
• Last Minute Tax Tips 2016 Every $1,000 in additional deductions or reductions in taxable income can save up to $390 in federal tax! Posted Dec 20, 2016