August 19th update: It has come to my attention that the original Example 3 was not clearly supported by the statute. This has been fixed and I … [Read more...] about Inflation Reduction Act: Tax Credits for Homeowners
Inflation Reduction Act: What Every Real Estate Investor Should Know
On Sunday morning, the U.S. Senate passed the Inflation Reduction Act (H.R. 5376). Assuming the House passes an identical bill this Friday (and Nancy … [Read more...] about Inflation Reduction Act: What Every Real Estate Investor Should Know
Tax Strategy Tuesday: Accelerate Depreciation Strategy
For today’s Tax Strategy Tuesday, I’ll be sharing a trick landlords and small business owners with real estate and capital equipment (like vehicles and … [Read more...] about Tax Strategy Tuesday: Accelerate Depreciation Strategy
B&O Tax Nexus in Washington
This blog post is the second in a two-part series. This post explains how Washington B&O tax, or “business and occupation tax,” works for mul … [Read more...] about B&O Tax Nexus in Washington
Sales Tax Nexus in Washington
We’ve already covered on this blog how payroll taxes work in Washington State. But there are two other types of Washington State taxes that just about … [Read more...] about Sales Tax Nexus in Washington
How to Record Washington State Sales Tax in QuickBooks Online
Some bad news for Washington state QuickBooks Online users who need to report and pay Washington state sales tax. The bookkeeping requires some… well, … [Read more...] about How to Record Washington State Sales Tax in QuickBooks Online
How to Apply for a Washington Business License
If your company does business in Washington, then you likely need a Washington business license. Luckily, applying for a new business license in … [Read more...] about How to Apply for a Washington Business License
Section 951A GILTI Tax Avoidance: Ten Tricks
And what's worse? Many of these folks don't even know yet that they have to deal with a new tax. No kidding, this could get ugly. … [Read more...] about Section 951A GILTI Tax Avoidance: Ten Tricks
Section 962 Election: An Answer to GILTI?
As you probably know if you’re reading this blog post, many investors and entrepreneurs with an international footprint face a painful new tax, the S … [Read more...] about Section 962 Election: An Answer to GILTI?
Do You Owe the Section 965 Transition Tax?
For either 2017 or 2018, many U.S. taxpayers with an interest in a foreign corporation owe(d) the § 965 transition tax. However, the new rule arrived … [Read more...] about Do You Owe the Section 965 Transition Tax?