An abatement is simply a deduction/reduction or, in some cases, an exemption in the taxation level allocated to an individual or organization. Some examples of abatement include; a...
Posted by KLSM CPA Firm PLLC on 03/24/2022
An independent contractor is a business owner as well, like a sole proprietor.As a result, you get the liberty to structure your schedule and create a career path for yourself. While...
Posted by Tiffany Gaskin on 07/06/2021
What is Rental Income?Uncle Sam defines rental income as any payment you receive for using or occupying the property. Examples are rent payments, security deposits, advance rent, fees...
Posted by Tiffany Gaskin on 06/04/2021
Energy tax credits for businesses are classified as a dollar to dollar deduction on a commercial organization's energy bills. It is usually done at the federal and state level....
This article sheds light on vital tax tips that can significantly help real estate investors. Be OrganizedIf you want to get back the funds you believe you deserve for the tax...
Billions of dollars in property taxes go unpaid every year, a major problem for local municipalities that depend on this money to fund public services. Instead of waiting months or...
A daycare is a licensed business that can enjoy tax deductions. Like other businesses, a tax deduction is a way to bring down your entire tax liability. What is a Business Deduction?Any...
The Basis of Asset (551) is the Publication 551 from the IRS, which is a document released by the IRS outlining how to ascertain "cost basis" for a range of financial instruments...
Property taxes are an important source of revenue for the city, state, and federal governments, which use the money to finance projects such as schools, road construction, maintenance,...
Posted by Don Bell Law on 07/16/2020