The Proactive Accountant Dissonance
This comes up a lot, both in conversation and presentations. The subject of what accountants do, relative to what small businesses wished they would do. The dissonance here is that accounting is basically history. With clean inputs and a pristine book you know exactly how you’ve been performing in the past, up until the present […]
Buy Your Next Home Without Selling Your Current Home
Are you a real estate investor? Even if you’re just thinking about picking up your first investment property, this is for you. The following is an excerpt from my last e-book, “Save Thousands Every Year as a Property Investor.” If you’d like a free copy of the entire book it’s yours! Just go here, follow […]
Why I Love Tax Season
I can remember my dad telling me, back when I was a teenager, that I always had to be different. Like it was a bad thing. He had this vision of what I could be, and I guess I went in a polar opposite direction at the time. To my credit, it was several decades […]
Do Real Estate Investors Get the Business Deduction?
I’m hopeful that when you read that catchy title you asked yourself, “What business deduction? Saying “business deduction” to anyone in business is like saying pizza tastes good. A premise that (I don’t think) anyone can argue with, but not very specific. Now that I have your attention, I’ll make this crystal clear: we’re talking […]
How to Leave Your Kid an Amazing Inheritance
If you are a real estate investor, and you are holding a property or properties for either appreciation or rental income, this is going to be very interesting for you. Especially if you’re in the middle- to-later stages of your life. Have you ever heard the story about a man who plants a tree, knowing […]
Preparing for Tax Season 2023
It’s that time of year again. Seriously, I know you’re thinking, “Come on! I have until April 15th; slow your roll a little!” Taxes are like going to the dentist. A painful bummer to be avoided until the last minute. Well…let me tell you something. I don’t feel that way. At least about the procrastination […]
The 2 Biggest Reasons your Year-End Financials are so Important
Year-end financial statements, such as the balance sheet and profit & loss statement, provide a snapshot of a company’s financial position and performance at a specific point in time. We all know this by now, right? These statements are important because they provide information about the company’s assets, liabilities, revenues, expenses, and net income. But […]
3 Ways to Super-Charge Your Business in 2023
I am in love with the calendar sticking the landing this year. The first day of the year is a Sunday. I’ve always been a big fan of the weeks beginning with a Sunday anyway. It’s like beginning your morning with a brief time of peaceful silence, whether sitting alone in a semi-dark kitchen sipping […]
Real Estate Investor, Part 2: Form One Master Business Entity
Merry 🎅❄️🎁⛄🎄 Christmas, real estate investors! Here is your gift from me to you, the Part 2 I promised you from last week. Everybody likes cash for the holidays, and my gift to you is worth thousands of dollars. Ho ho ho! So, where I left off last week…I was getting to […]
Real Estate Investor vs. Real Estate Dealer
There’s a difference? Really? There IS a difference, and knowing which to choose can save you tens of thousands of dollars in taxes. Per transaction. That’s right. We’ve covered some of your big money makers and savers already, such as holding out for a full year prior to sale to reduce taxes from ordinary income […]