Rental property owners can reduce tax burdens by properly categorizing income and expenses, distinguishing between repairs and improvements, and keeping detailed records. Missteps in these areas can result in missed deductions or IRS issues. Consulting a real estate accountant for rental properties provides strategic tax planning to optimize deductions and ensure proper reporting.Read More
Understanding tax rules for real estate professionals can lead to significant savings, especially when managing rental properties. Key factors like material participation, passive activity loss rules, and rental property elections play a major role in tax planning. Working with a real estate tax accountant ensures compliance while helping property owners maximize deductions and structure their...Read More
Working locum tenens offers flexibility and higher pay, but it also comes with new responsibilities like managing your own taxes and expenses. This blog breaks down what you need to know about 1099 status, tax deductions, and budgeting so you can keep more of what you earn while staying prepared for tax season.Read More
The rise of 1099 classifications for healthcare professionals, such as anesthesiologists, marks a significant shift in the industry. Many of these professionals, previously accustomed to W-2 employment, face new financial responsibilities and challenges under this classification. However, these changes can also present valuable opportunities to improve their financial outcomes. This blog will explore how forming...Read More
This blog post is for real estate investors preparing for the 2024 tax season. It offers a comprehensive guide to key tax deductions that can reduce tax liability and increase investment returns. From property taxes and depreciation to repairs, management fees, and mortgage interest, the article covers essential deductions you shouldn’t overlook. It also provides...Read More
This blog guides healthcare professionals like CRNAs, anesthesiologists, nurse practitioners, telehealth doctors, and physician assistants who may unexpectedly find themselves transitioning from traditional employment to 1099 independent contractor status. It covers the differences between employees and independent contractors, the reasons for the growing trend in healthcare, the financial and administrative responsibilities of 1099 status, and...Read More
As the October 15 tax extension deadline approaches, ensure you’re prepared by understanding the requirements for filing and paying your taxes. Accolade Accounting provides essential tips and professional support to help you file efficiently and avoid penalties.Read More
Flipping properties comes with tax challenges that can affect your profits. In this blog, the real estate CPAs at Accolade Accounting share practical advice to help you make the most of your investments. Whether you’re new to flipping or refining your strategy, these tips can help you flip smarter and keep more of your earnings.Read More
Maximize the efficiency and growth of your small business by partnering with a professional accountant. Our guide details how an accountant can streamline complex financial tasks like VAT returns and tax planning, freeing up your time to focus on strategic business opportunities. Discover how an accountant can contribute to your business’s success by ensuring compliance...Read More
Switching your LLC to an S Corp can be daunting. Our guide simplifies this process, providing clear instructions on filing IRS Form 2553, ensuring compliance, and maintaining records. You’ll gain valuable insights and tips from the experts at Accolade Accounting, making your transition smooth and stress-free. Discover how we can help you navigate these requirements...Read More
