The CPA Zone: Tax Strategies for Small Businesses

Real Estate Professional Grouping Election

Today we discuss the grouping election made available to real estate pros. This election allows real estate pros to combine their rentals into a single activity for purposes of hitting the material participation hours.
 
Would you like to become a client? Complete one of our client intake forms here:
https://www.thepulicegroup.com/contact
 
Free e-Book Download
 
The CPA Zone podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.

How Real Estate Can Save Taxes Without REPS

In this episode we cover several ways real estate saves you money in taxes without qualifying as a real estate professional
 
Would you like to become a client? Complete one of our client intake forms here:
https://www.thepulicegroup.com/contact
 
Free e-Book Download
 
The CPA Zone podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.

Retirement Plan Tax Credits for Small Businesses

This week we discuss retirement plan credits available for small employers. The Secure Act 2.0 made some valuable enhancements.
 
Would you like to become a client? Complete one of our client intake forms here:
https://www.thepulicegroup.com/contact
 
Free e-Book Download
 
The CPA Zone podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.

The Self Rental Trap

Today Ryan explains the self rental trap and what you can do to avoid it.
 
Would you like to become a client? Complete one of our client intake forms here:
https://www.thepulicegroup.com/contact
 
Free e-Book Download
 
The CPA Zone podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.

Section 121 and Section 1031 Combo

This week Ryan answers the question, Can you use the Sec 121 Home Sale Exclusion and perform a Section 1031 exchange on the same property.
 
Would you like to become a client? Complete one of our client intake forms here:
https://www.thepulicegroup.com/contact
 
Free e-Book Download
 
The CPA Zone podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.

STR Arbitrage Schedule E or C?

This week Ryan explains the proper reported for income from STR arbitrage activities. Should you report this on Schedule E or Schedule C? Ryan also answers a question about the proper treatment of closing costs.
 
Would you like to become a client? Complete one of our client intake forms here: 
https://www.thepulicegroup.com/contact
 
Free e-Book Download
 
The CPA Zone podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.

Short Term Rentals with Personal Use

This week we discuss the impact of personal use of your short-term rental properties. Planning to use the short-term rental loophole and get in some personal days? Listen to this episode before doing so.
 
Would you like to become a client? Complete one of our client intake forms here: 
https://www.thepulicegroup.com/contact
 
Free e-Book Download
 
The CPA Zone podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.

Debits & Credits and Accrual vs Cash Accounting

Ryan explains debits and credits and also discusses accrual basis accounting versus cash basis accounting.
 
Would you like to become a client? Complete one of our client intake forms here:
https://www.thepulicegroup.com/contact
 
Free e-Book Download
 
The CPA Zone podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.

Section 721 Exchange

In this episode we discuss Section 721 exchanges. A 721 exchange functions similar to a 1031 exchange in that it allows you to defer tax on capital gains and depreciation recapture when you contribute real estate or other property to a partnership.
 
Would you like to become a client? Complete one of our client intake forms here:
https://www.thepulicegroup.com/contact
 
Free e-Book Download
 
The CPA Zone podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.

Sec 121 Home Sale Exclusion

In this episode Ryan discusses IRC Sec 121 more commonly known as the home sale exclusion. When you sell your main home you may be able exclude up to $250,000 ($500,000 for married couples) of capital gains.
 
Would you like to become a client? Complete one of our client intake forms here:
https://www.thepulicegroup.com/contact
 
Free e-Book Download
 
The CPA Zone podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.