OvernightBlog
Articles
- IRS Announces That Forgiven Payroll Protection Loans are Back-Door Taxable Many business owners are wondering if taking a PPL made good business sense. Posted May 01, 2020
- Helping the Homeless Receive Economic Impact Payments This article will discuss how to get CARES Act funds to many who desperately need them but are unable to obtain them on their own: The homeless. Posted Apr 20, 2020
- CARES Economic Impact Payments, Many May Have to Wait This article will discuss why many of the Coronavirus Aid, Relief, and Economic Security Act (CARES) payments will take much longer to disburse than intended. Posted Apr 09, 2020
- Deducting Travel Expenses as a Real Estate Agent, Part One: The Four Tests This article explains four criteria required for trips to meet the IRS definition of deductible business travel. Posted Jan 27, 2020
- Free Tax Organizer for Real Estate Agents The Real Estate Agent Tax Organizer is a fillable pdf file that contains every deduction-line on Schedule C. It also includes a section for Auto Mileage and expenses, and a complete Home Office Section. Posted Jan 22, 2020
- 2019 Year-End Business Tips & Reminders The new year is almost here, get your ducks in a row now with our VERY THOROUGH Year-End Business Newsletter. Posted Dec 23, 2019
- Qualified Residence Indebtedness Exclusion Retroactively Extended for 2017, 2018, and 2019 This article will discuss the challenge faced by those who owe more debt on a home than the home is worth and an overview of remedies to avoid taxes on that debt. Posted Dec 23, 2019
- Real Estate Agents, Deducting Taxes and Licenses on Schedule C This article will help you accurately report tax and license costs on Line 23 (and make sure you do not expense costs that are illegal to deduct). Posted Dec 23, 2019
- Real Estate Agents, Deducting Supplies on Schedule C Items that are regularly consumed by your business are supplies and are generally deductible in the year of purchase. Posted Dec 05, 2019
- Real Estate Agents, Deducting Repairs and Maintenance With a few exceptions, items deducted as repairs and maintenance are pretty straight-forward. Posted Nov 29, 2019
- Real Estate Agents, Deducting Rent & Leases on Schedule C This article will explain how and where is rent is deducted by a sole proprietor Real Estate Agent. Posted Nov 29, 2019
- Real Estate Agents, Schedule C, Line 19 - Pension & Profit-Sharing Plans Deduct employer contributions and administrative costs of employee retirement plans on Line 19, Pension and Profit-Sharing Plans. Posted Nov 18, 2019
- Real Estate Agents, Deducting Office Expenses Clarifying what is and is not deductible on Line 18 of Schedule C is the topic of this article. Posted Nov 12, 2019
- Real Estate Agents, Deducting Legal and Professional Services This article will help you understand what is and is not deductible on Line 17, Legal and Professional Services. Posted Nov 12, 2019
- Real Estate Agents, Deducting Interest Expense Part Three: Deducting Loan Interest Once you know business loan interest is deductible, the next question is Where and when do I take the deduction. This article answers this question. Posted Oct 29, 2019
- Real Estate Agents, Deducting Interest Expense Part Two: Business Use of Loan Proceeds This article will help agents understand the business-purpose requirement while pointing out a common pitfall that threatens their interest deduction. Posted Oct 25, 2019
- Real Estate Agents, Deducting Interest Expense Part One: Meeting the Loan Definition When is the interest paid on loans deductible on Line 16 of Schedule C, Profit and Loss from Business? Posted Oct 18, 2019
- Real Estate Agents, Deducting Insurance (other than Health) This article will discuss premiums deducted on Line 15 of Schedule C, Insurance (other than health). Posted Oct 08, 2019
- Real Estate Agents, Deducting Employee Benefit Programs Some things to consider when hiring as a real estate agent. Posted Oct 04, 2019
- Real Estate Agents, Bonus Depreciation & Section 179 Expense This article will discuss Bonus Depreciation and Section 179 Expense as it applies to personal property purchases of Real Estate Agents and small business owners. Posted Sep 29, 2019
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Categories
Most Popular
- I’m a Real Estate Agent, Do I Qualify for the 20% Income Deduction?
- Does My Church Need to File Form 1099-MISC?
- What is HOA Exempt Function Income?
- Does My HOA Need to File Form 1099-MISC?
- HOA Electing Section 528 Test, Does your HOA qualify for Form 1120-H?
- How to Determine Your HOA’s 1120-H Exempt Function Expense Percentage
- Real Estate Agents: What Auto Use is Deductible? A Lot More if You Have a Home Office!
- I’m Self-Employed. Can I Deduct My Spouses Health Insurance Premiums?
- Does your HOA qualify for Form 1120-H?; HOA No Private Inurement Test
- Five Steps to Building a Successful Business
- The HOA Exempt Function Test
- Do HOAs Need to File a Tax Return? Yes! Here’s How.
- Form 1099-MISC Noncompliance (Can Literally Destroy Your Business)
- The 1099 Perjury-Trap, The Not-So-Secret Penalty Escalator
- Real Estate Agents, the #1 key to maximizing your tax deductions is your home office
- No Proof - No Deduction, An Easy Way to Track Mileage For Real Estate Agents & Small Business Owners
- Who Must File Form 1099-MISC?
- Real Estate Agents, Auto Expenses: Deducting a Leased Vehicle
- What are Statutory Nonemployees?
- Real Estate Agents, Auto Expenses: Bonus Depreciation & Section 179 Expense