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Tax Strategy Tuesday

Tax Strategy Tuesday: Real Estate Professional Tax Strategy

February 1, 2022 By Stephen Nelson CPA

The real estate professional tax strategy can save significant amounts of income taxes.

A few weeks ago, I talked about one way to get big real estate tax deductions onto a tax return, the vacation rental tax strategy. This week, I … [Read more...] about Tax Strategy Tuesday: Real Estate Professional Tax Strategy

Filed Under: individual income taxes, investment, personal finance, real estate, retirement, Tax Strategy Tuesday

Tax Strategy Tuesday: Avoid Real Estate Net Investment Income Tax

January 25, 2022 By Stephen Nelson CPA

real estate net investment income tax blog post art

Are you a real estate investor? And, just to get the awkward part over, have you been pretty successful with real estate? I thought that might be … [Read more...] about Tax Strategy Tuesday: Avoid Real Estate Net Investment Income Tax

Filed Under: individual income taxes, investment, real estate, Tax Strategy Tuesday

Tax Strategy Tuesday: Move to a No Tax State Strategy

January 18, 2022 By Stephen Nelson CPA

Move to a no tax state tax strategy blog post

A tax strategy hidden in plain sight this week for our post: Maybe you should move from your high tax state to a no tax or low tax state. For … [Read more...] about Tax Strategy Tuesday: Move to a No Tax State Strategy

Filed Under: individual income taxes, Tax Strategy Tuesday

Tax Strategy Tuesday: Accelerate Depreciation Strategy

January 11, 2022 By Beth Nelson CPA

accelerated depreciation tax strategy blog post

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 … [Read more...] about Tax Strategy Tuesday: Accelerate Depreciation Strategy

Filed Under: business taxes, individual income taxes, personal finance, real estate, Tax Strategy Tuesday

Tax Strategy Tuesday: Start a Pension Plan for Yourself

December 28, 2021 By Stephen Nelson CPA

Another idea? The pension plan tax strategy

The year is almost over. Not much time at all to take steps that reduce your taxes. But one last-minute idea to share. An easy trick that can help … [Read more...] about Tax Strategy Tuesday: Start a Pension Plan for Yourself

Filed Under: business taxes, individual income taxes, retirement, Tax Strategy Tuesday

Tax Strategy Tuesday:  Startup Business Employee Retention Credit

December 21, 2021 By Stephen Nelson CPA

Recovery startup business employee retention credit gives entreperneurs up to $100,000 in tax savings.

The year ends in a just a few days. So, a last minute tax strategy: If you can start a business before the year ends, you should be able to employ the … [Read more...] about Tax Strategy Tuesday:  Startup Business Employee Retention Credit

Filed Under: business taxes, employee retention credit, individual income taxes, Tax Strategy Tuesday

Tax Strategy Tuesday:  Convert Guaranteed Payments to Qualified Business Income

December 14, 2021 By Stephen Nelson CPA

Convert quaranteed payments into QBI to salvage 199A deductions.

Okay. This Tuesday? I've got a tax strategy for partnerships. A strategy that can save individual partners thousands in taxes annually. Maybe even … [Read more...] about Tax Strategy Tuesday:  Convert Guaranteed Payments to Qualified Business Income

Filed Under: business taxes, individual income taxes, Section 199A, Tax Strategy Tuesday

Tax Strategy Tuesday:  One Person S Corporation

December 6, 2021 By Stephen Nelson CPA

This Tuesday's tax strategy: The one person S corporation.

In a few weeks, one tax year ends and a new tax year starts. For that reason, it makes sense to talk about a powerful tax strategy for small … [Read more...] about Tax Strategy Tuesday:  One Person S Corporation

Filed Under: business taxes, Corporate taxation, S corporation, Tax Strategy Tuesday

Tax Strategy Tuesday:  Vacation Rental Property

November 30, 2021 By Stephen Nelson CPA

The vacation rental tax strategy works well if you understand the rules.

On Tuesdays, for at least the next few weeks, we will blog about tax strategies that high-income investors and business owners may be able to use to … [Read more...] about Tax Strategy Tuesday:  Vacation Rental Property

Filed Under: individual income taxes, personal finance, real estate, Tax Strategy Tuesday

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Featured Posts

Washington state houses of worship usually qualify for employee retention credits

Washington State Houses of Worship All Qualify for Employee Retention Credits

Did your Washington state church, mosque, synagogue or temple suspend services due to Governor Inslee's "Stay Home Stay Healthy" proclamation? I … [Read More...] about Washington State Houses of Worship All Qualify for Employee Retention Credits

Six Hacks to Simplify Small Business Accounting and Taxes

Six Hacks to Simplify Small Business Accounting and Taxes

Starting a new business? This suggestion: Keep your small business accounting and your taxes simple. Really simple. The reason? In the post-pandemic … [Read More...] about Six Hacks to Simplify Small Business Accounting and Taxes

Washington state capital gains tax returns will need to be filed for 2022 as per the Supreme Court's March decision.

Filing Washington State Capital Gains Tax Returns

You maybe need to file a Washington state capital gains tax return with your 2022 federal tax return. Specifically, if you realized long-term … [Read More...] about Filing Washington State Capital Gains Tax Returns

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