My California-based accounting firm, Allec CPA, specializes in tax and accounting services for real estate investors. Many of my clients are California residents who live in expensive areas such as San Francisco, San Jose, Los Angeles, Orange County, and San Diego and invest in rental properties in less expensive states such as Ohio, Indiana, Kansas, and Tennessee. And … [Read more...] about 7 Tax Tips for New Out-of-State and Turnkey Real Estate Investors
Over the holidays I wore three hats: a Santa Clause hat, a blogger hat, and a CPA hat. 🎅 My Santa Claus hat compelled me to give gifts to friends and loved ones on the nice list. 🤔 My blogger hat compelled me to work on my next product launch, schedule a bunch of pins in Pinterest, calculate my 2017 blog revenue and expenses, and get a head start on 2018 blog content. 🤓 And … [Read more...] about 3 Ways that Bloggers Can Save $1000s With the New Tax Law
It’s very common for sole proprietors to form an entity and elect S corporation status on it to mitigate the self-employment tax burden. A natural follow-up question that many ask is, “Well, now that I am an S corporation shareholder-employee, can I still take the home office deduction? I used to report it directly on Schedule C, but now what? Does my S corporation just … [Read more...] about Can My S Corp Pay Me Rent? How Do I Take the Home Office Deduction in an S Corp?