The 1031 Exchange: Building Bigger Houses of Cards

Posted by wpadmin | Posted in Business and Corporations, Financial Advisement, Government, Personal Finance, Taxes | Posted on 22-01-2016

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We’re sure many wonder just how people get rich: tenacity. That’s the only way we can describe it. It all boils down to how you buy a candy bar for a buck and then sell it for two bucks. Simple as that. Increase the scale as high as you want to go, and you have a major money maker on your hands. That’s why selling homes can be a lucrative business, especially when you involve crowdfunding, but even more so, you save a ton of money on your taxes offsetting real estate capital gains or losses with this:

The 1031 Exchange: Investing Your Business in Something Biggertax return house of cards

How so? How does this work? Simply put, a 1031 Exchange in the IRS Code allows any real estate investor the ability to sell a property, take a profit, and then defer capital gains or losses provided the proceeds go to a reinvestment in a new similar used building. Think of house flipping, for instance.

Not all real estate transactions will actually apply to the 1031 Exchange, though; the property you’re reinvesting into would have to be utilized for trade, business or investment. In other words, if you’re living in a house, and then sell it to a buyer, you can’t use your earnings on it to buy another house to live in and then save on the sales taxes you’ll have to pay anyway. It would strictly have to be on the corporate side — a little something aside from the tax write-offs, say, real estate professionals can take advantage of.

So think of a house of cards, getting bigger and bigger. It’s kind of like that idea. Buy a building for, say, $150K and then turn around, sell it for $200K (you’ve just made $50K in profit). You’d have to pay taxes on the profit itself unless you take your entire $200K and invest in another property. This tax benefit often works quite well for house flippers for obvious reasons, but you get the picture. Keep reinvesting on more and more buildings, and you’ll continually make more and more profit over time while saving on your taxes. That’s the idea anyway.

Learn More About Tax Shelters and Sign Up With ITPN Immediately

And that’s just one way to maximize your taxes and take advantage of the many possible credits you can obtain. Click here to learn about other ways to increase that tax refund. Are you ready to file that tax return? Sign up with the Income Tax Planning Network and get started today.

 

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Maximizing Business Taxes as a Real Estate Professional

Posted by wpadmin | Posted in Business and Corporations, Financial Advisement, Government, Personal Finance, Taxes | Posted on 22-01-2016

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What kind of business tax write-offs are we talking about? Plenty. It’s staggering just what you can deduct from your taxes and get some money back for your investment, and make no mistake — in the real estate business, even as our domestic market continues to grow with the surging home prices, foreign interest in U.S. real estate, the burgeoning mortgage trends, and millennials everywhere taking the industry by storm as the newest home buyer of the the rest of this decade, you want to stay ahead in the game with your business investments and keep the revenue flowing.

One Surefire Way to Do That Is to Make Sure You’re Taking Advantage of All of Your Business Taxes

It’s staggering just how much many real estate agents don’t know about their tax returns. This is just a list of what you can deduct for business taxes, but one thing’s for sure: you must consult with a professional at the Income Tax Planning Network and get going now. The faster you do it, the faster you get that tax refund deposit!

Business Travel

  • Airfare Costsbusiness taxes travel
  • Car Rentals
  • Dry Cleaning & Laundry
  • Lodging
  • Meals (Yes, meals can be deducted!)
  • Parking & Tolls
  • Taxi, Train, Ferry, Boat, Subway & Bus
  • Tips

Communications

  • Cell Phones
  • Answering Services
  • Faxing and Emails
  • Interactive Voice Response (IVR)
  • Internet
  • Office Telephone (VOIP)
  • Toll-Free Numbers
  • Even Pagers!

Supplies & Equipment

  • Briefcases
  • Stationary & Other Office Suppliesbusiness taxes equipment
  • Calculators
  • Cameras & Lenses
  • Vacuum Cleaners
  • Windex & Soap Scum Remover
  • Computers, Laptops & Tablets
  • Flashlights
  • GPS
  • Hard & Flash Drives
  • Lock Boxes & Keys
  • Maps
  • Printers & Scanners
  • Tape Measures
  • Repair & Maintenance
  • Security Systems
  • Utilities
  • Insurance Costs
  • Mortgage Interest or Rent
  • Property Taxes

Your Workforce (If You Have One)business taxes payroll

  • Clerical Support
  • Family Wages (It’s the Truth, No Joke)
  • Payroll & Unemployment Taxes
  • Sales & Virtual Assistants

Other Office Expenses

  • Desk Fees
  • Coffee & Drinking Water Provisions
  • Copier Fees
  • Janitorial Services

Professional Fees

  • NAR
  • NAIREB
  • NAREB
  • NAEBAbusiness taxes legal
  • CREA
  • Chamber of Commerce
  • Bank Fees
  • Bookkeeping
  • Business Licensure
  • E&) Insurance
  • Franchise/Affiliation Fees
  • Interest on Business Purchases
  • Legal Fees
  • MLS Fees
  • Tax Preparation Fees

Retirement Costs

  • The Defined Benefit Plan
  • Self-Employment Pension (SEP)
  • Simple IRA
  • Solo 401k

Real Estate Selling Expenditures

  • Appraisals
  • CL100’s
  • Client Gifts (Less Than $25 Per Client)
  • Closing Attorney Fees
  • Concessionsbusiness taxes real estate
  • Courier Services & Delivery Fees
  • Finder Fees & Referrals
  • Listed Property Repairs
  • Home Warranties
  • Inspections
  • Notary Fees
  • Open House Costs
  • Photo Editing
  • Home Staging
  • Startup Organizational Costs

Overwhelmed, Yet? Don’t Be. This Is All Good for the Business Taxes.

And as a real estate agent, you’ll be doing just fine, especially after looking at this more comprehensive tax write-off guide. Yes, there’s even more you can deduct from your taxes.

So don’t sweat it. You’re doing just fine. You’ve got the business taken care of with CBB, and if you’re ready after itemizing everything from your toothpicks to telemarketing services, register with the Income Tax Planning Network right now and get those taxes done immediately.

The post Maximizing Business Taxes as a Real Estate Professional appeared first on Cloud Based Bookkeeping.

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What Will Alimony Do to Your Tax Return?

Posted by wpadmin | Posted in Business and Corporations, Financial Advisement, Government | Posted on 22-01-2016

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ShareFollow UsLegally, we have one word that means the most in and out of the courtroom: fair. We look for fairness. Equity. And when it comes to divorce, equity is king, because you definitely want to steer clear of the chaos (especially if you have children). Think about it. Divorce Is Ugly, But With Legal Representation, We Can Make It Work Out This can largely be the case regarding alimony, or spousal support — something you may have to pay to…

The post What Will Alimony Do to Your Tax Return? appeared first on INTERNET LEGAL PLANS.

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10 Tax Return Tips to Accomplish With the Network

Posted by wpadmin | Posted in Personal Finance, Taxes | Posted on 08-01-2016

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What is the network, you ask? Obviously ITPN (the Income Tax Planning Network), the innovator behind the convenient and accurate 2-hour tax return. And since taxes are second to death in this country, we want to make sure we get those done before the grim reaper makes his way toward us. Let’s face it: we all want that great tax refund. But understand that there are definitely must-do’s to do in order to get that tax return filed correctly and on time.

Here Are Those Ten Top Tax Return Tips — Courtesy of ITPN

Some of these might actually surprise you a bit. One thing’s for sure: you’re going to need the Income Tax Planning Network to make sure you have all your i’s dotted, t’s crossed, k’s curled, and p’s placed in the right places come tax return time, starting with….

Now’s the Time — Don’t Wait

You’ve got two things on your side: information and collaboration. The information is here. Collaboration is right here. Let us collaborate with you to get this done. Because that tax refund’s waiting for the deposit. And you’re on the other end to cash in.

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Your Ultimate Tax Write-Off Guide for Real Estate Agents

Posted by wpadmin | Posted in Business and Corporations, Personal Finance, Taxes | Posted on 05-01-2016

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The real estate biz is a tough cage fight where you’ve got to lock the kimura and force a tap-out before you’re knocked to the ground. Make no mistake about it. And when it comes to real estate agents, that iron jaw’s crucial; but what happens when you’re getting hit way too much financially that you don’t know how to keep your wits about you? This is what you do….

You Take Advantage of Your Tax Write-Offs!

Remember: you’re a professional. An entrepreneur. You’ve got a wealth of tax write-offs at your fingertips, and if you’re missing anything, you could be losing out on a lot for your tax refund. Some of thesereal estate agents-1 specifics might actually shock you, but we’ve broken it down to four verticals for your to keep in mind, but as always, consult your tax expert with ITPN right now to get the goods on maximizing your refund this year:

Work on Your Ground Game as Real Estate Agents, and the Battle’s All Yours to Win

You’re a professional. You utilize social media to maximize your visibility. Your investment brings in lead after lead. It’s time to get some more back for all your hard work. How do you do it? You use this ultimate tax write-off guide for real estate agents. Sign up immediately for more information about what you need to do with your taxes and get your year started off on the right foot.

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Life just happens, good or bad, for many families out there in the United States. There’s no denying it. Single mothers, even single fathers: low-income families have a burden on their shoulders where basic bookkeeping becomes a stress of mammoth proportions due to the fact that there’s never enough income generated to pay necessary bills just to make it day by day.

So what has to be in place? Simply put, government aid. It’s almost a necessity for low-income families. But whether you think it’s a crutch or not, and whether many simply seem to take advantage of the benefits offered by the government, one thing is clear — even the families that do work hard seem to only make it by the skin of their teeth, having to pull from their next paychecks to pay back someone who lent money, or robbing “Peter” to pay numerous “Pauls,” because the fact is this — government aid can only do so much in comparison to personal finances (and, yet, there’s so much going into those funds that it may shock you).

Here Are Five Facts That Just Might Blow You Away With Respect to Government Aid and Low-Income Familieslow-income families

What Do These Facts Mean to You? That They Prove Benefits Don’t Benefit?

On the contrary…. They certainly make their mark. If it wasn’t for these programs, you’d have single parents on minimum wage or low-income families stuck in homeless shelters without any way to make the rent payment. That’s just a matter of fact….

But when you’ve got a certain fast-food chain making anywhere around $4.8BB in annual profits, it begs the question about employment — why not pay your workers what they earn with all the hours they put in, or want to put in, so they can get off of government aid and not have to pick and choose on their expenses?

Your average low-income worker will have just over $6K in annual income and about $11K in benefits for food, rent and child care. How’s that for a perspective on low-income families?

ITPN recognizes there’s a problem with the current system we have in place. So let’s fix it. Now.

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Life just happens, good or bad, for many families out there in the United States. There’s no denying it. Single mothers, even single fathers: low-income families have a burden on their shoulders where basic bookkeeping becomes a stress of mammoth proportions due to the fact that there’s never enough income generated to pay necessary bills just to make it day by day.

So what has to be in place? Simply put, government aid. It’s almost a necessity. But whether you think it’s a crutch or not, and whether many simply seem to take advantage of the benefits offered by the government, one thing is clear — even the families that do work hard seem to only make it by the skin of their teeth, having to pull from their next paychecks to pay back someone who lent money, or robbing “Peter” to pay numerous “Pauls,” because the fact is this — government aid can only do so much in comparison to personal finances (and, yet, there’s so much going into those funds that it may shock you).

Here Are Five Facts That Just Might Blow You Away With Respect to Government Aid and Low-Income Familieslow-income families

What Do These Facts Mean to You? That They Prove Benefits Don’t Benefit?

On the contrary…. They certainly make their mark. If it wasn’t for these programs, you’d have single parents on minimum wage or low-income families stuck in homeless shelters without any way to make the rent payment. That’s just a matter of fact….

But when you’ve got a certain fast-food chain making anywhere around $4.8BB in annual profits, it begs the question about employment — why not pay your workers what they earn with all the hours they put in, or want to put in, so they can get off of government aid and not have to pick and choose on their expenses?

Your average low-income worker will have just over $6K in annual income and about $11K in benefits for food, rent and child care. How’s that for a perspective?

ITPN recognizes there’s a problem with the current system we have in place. So let’s fix it. Now.

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Life just happens, good or bad, for many families out there in the United States. There’s no denying it. Single mothers, even single fathers: low-income families have a burden on their shoulders where basic bookkeeping becomes a stress of mammoth proportions due to the fact that there’s never enough income generated to pay necessary bills just to make it day by day.

So what has to be in place? Simply put, government aid. It’s almost a necessity. But whether you think it’s a crutch or not, and whether many simply seem to take advantage of the benefits offered by the government, one thing is clear — even the families that do work hard seem to only make it by the skin of their teeth, having to pull from their next paychecks to pay back someone who lent money, or robbing “Peter” to pay numerous “Pauls,” because the fact is this — government aid can only do so much in comparison to personal finances (and, yet, there’s so much going into those funds that it may shock you).

Here Are Five Facts That Just Might Blow You Away With Respect to Government Aid and Low-Income Familieslow-income families

What Do These Facts Mean to You? That They Prove Benefits Don’t Benefit?

On the contrary…. They certainly make their mark. If it wasn’t for these programs, you’d have single parents on minimum wage or low-income families stuck in homeless shelters without any way to make the rent payment. That’s just a matter of fact….

But when you’ve got a certain fast-food chain making anywhere around $4.8BB in annual profits, it begs the question about employment — why not pay your workers what they earn with all the hours they put in, or want to put in, so they can get off of government aid and not have to pick and choose on their expenses?

Your average low-income worker will have just over $6K in annual income and about $11K in benefits for food, rent and child care. How’s that for a perspective on low-income families?

ITPN recognizes there’s a problem with the current system we have in place. So let’s fix it. Now.

redditpinterestlinkedintumblrmail

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Follow Us!

Life just happens, good or bad, for many families out there in the United States. There’s no denying it. Single mothers, even single fathers: low-income families have a burden on their shoulders where basic bookkeeping becomes a stress of mammoth proportions due to the fact that there’s never enough income generated to pay necessary bills just to make it day by day.

So what has to be in place? Simply put, government aid. It’s almost a necessity for low-income families. But whether you think it’s a crutch or not, and whether many simply seem to take advantage of the benefits offered by the government, one thing is clear — even the families that do work hard seem to only make it by the skin of their teeth, having to pull from their next paychecks to pay back someone who lent money, or robbing “Peter” to pay numerous “Pauls,” because the fact is this — government aid can only do so much in comparison to personal finances (and, yet, there’s so much going into those funds that it may shock you).

Here Are Five Facts That Just Might Blow You Away With Respect to Government Aid and Low-Income Familieslow-income families

What Do These Facts Mean to You? That They Prove Benefits Don’t Benefit?

On the contrary…. They certainly make their mark. If it wasn’t for these programs, you’d have single parents on minimum wage or low-income families stuck in homeless shelters without any way to make the rent payment. That’s just a matter of fact….

But when you’ve got a certain fast-food chain making anywhere around $4.8BB in annual profits, it begs the question about employment — why not pay your workers what they earn with all the hours they put in, or want to put in, so they can get off of government aid and not have to pick and choose on their expenses?

Your average low-income worker will have just over $6K in annual income and about $11K in benefits for food, rent and child care. How’s that for a perspective on low-income families?

ITPN recognizes there’s a problem with the current system we have in place. So let’s fix it. Now.

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You’re probably wondering how you could possibly make money just from receiving our benefits. Easy. As a member of ITPN, we’ll put it in perspective for you: if you refer just one friend or family member to us each month, this is what you get, right in your pocket: $40 for each referral.income tax family

That’s $480 each year. In your pocket. Get the picture? Makes the Income Tax Planning Network’s $25/month membership seem like pennies when you think about it. And that’s just when you refer only one person a month to us. Want to do the math if you refer five people to us? Or ten people?

How can you not take advantage of this unique benefit?

Thank You for Helping Us Grow Our Family. Your Family.

Thank you for being a part of this family. Please do call our office at 888-203-3030 to set up your free marketing training, starting you off on generating revenue with us right away.

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