CPA Practice

SEPTEMBER 9, 2024

Those nearing retirement or on a fixed income often need to know what the financial and tax implications might be should they sell a longtime family residence, a second home or real estate included in their portfolio. The real estate industry has responded to these challenges.

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CPA Practice

MAY 14, 2024

The NYU School of Professional Studies Division of Programs in Business will host the 2024 Federal Real Estate and Partnerships Tax Conference at the Mayflower Hotel in Washington, DC, from June 6 to 7. Wilner, CPA, Advisor, Grossberg Company, Bethesda, MD Dealer v. Investor: Concepts & Planning Peter J. Schachat, Esq.

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CPA Practice

JANUARY 11, 2024

That’s the forecast from top analysts at Dallas-based CBRE Group, one of the world’s largest commercial real estate firms. “We We expect 2024 will be decidedly different for real estate investors,” Darin Mellott, head of Americas capital markets research for CBRE, which moved its headquarters to Dallas in 2020.

Real Estate 113

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RogerRossmeisl

JANUARY 5, 2022

Do you want to sell commercial or investment real estate that has appreciated significantly? With real estate prices up in some markets (and higher resulting tax bills), the like-kind exchange strategy may be attractive. However, neither the relinquished property nor the replacement property can be real property.

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RogerRossmeisl

OCTOBER 30, 2023

179 deductions can also be claimed for real estate qualified improvement property (QIP), up to the maximum allowance. The post Update on Depreciating Business Assets appeared first on Roger Rossmeisl, CPA.

Real Estate 223

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RogerRossmeisl

MAY 28, 2021

How it works You can claim an itemized deduction on your tax return for real estate taxes and home mortgage interest. The post Determining the “Basis” in your Residence appeared first on Roger Rossmeisl, CPA. The housing market in many parts of the country is strong this spring.

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RogerRossmeisl

FEBRUARY 4, 2024

If you’re interested in selling commercial or investment real estate that has appreciated significantly, one way to defer a tax bill on the gain is with a §1031 “like-kind” exchange. For these purposes, like-kind is broadly defined, and most real property is considered to be like-kind with other real property.

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RogerRossmeisl

JANUARY 26, 2022

Over time, historic cost may understate market value for appreciable assets, such as marketable securities and real estate. The post The Cost Approach to Valuing a Business appeared first on Roger Rossmeisl, CPA.

Real Estate 183

Real Estate accounting principles CPA financial statements 183

RogerRossmeisl

MAY 30, 2022

You’re generally treated as a regular real estate landlord once you begin renting your home. appeared first on Roger Rossmeisl, CPA. If you’re thinking of doing this, you’re probably aware of the financial risks and rewards. However, you also should know that renting out your home carries potential tax benefits and pitfalls.

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CPA Practice

MAY 7, 2023

By Diana Crawford, CPA. Diana Crawford, CPA, is managing partner of Crawford, Merritt & Company, a firm in the Atlanta area that serves unique businesses with unique challenges. Each spring, the blooming of the color-popping azaleas signals the time for arguably one of the greatest golf tournaments, the Masters.

Real Estate 110

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MyIRSRelief

FEBRUARY 1, 2022

For smaller businesses, where there is not an option, a CPA or EA firm may be a better choice. A CPA or Certified Public Accountant, or EA Enrolled Agent is a specially trained professional who knows all of the necessary rules and regulations regarding business finances. Question #1: What do CPA’s offer to me as a business owner.

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RogerRossmeisl

MAY 5, 2023

Cost (or asset-based) approach Because the balance sheet identifies a company’s assets and liabilities, it can be a reliable source of financial information, especially for companies that rely heavily on tangible assets (such as manufacturers and real estate holding companies).

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CPA Practice

AUGUST 16, 2024

Ramirez The Detroit News (TNS) A Detroit woman convicted of being an unlicensed accountant and unlicensed real estate agent has been sentenced to two years of probation, officials said. She faced up to five years in prison for being an unlicensed CPA and up to 90 days for each count of being an unlicensed real estate agent.

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CPA Practice

AUGUST 15, 2024

Ramirez The Detroit News (TNS) A Detroit woman convicted of being an unlicensed accountant and unlicensed real estate agent has been sentenced to two years of probation, officials said. She faced up to five years in prison for being an unlicensed CPA and up to 90 days for each count of being an unlicensed real estate agent.

Real Estate 52

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RogerRossmeisl

AUGUST 6, 2023

In this scenario, the tax rules generally treat you as a real estate dealer. The post A Tax-Smart Way to Develop and Sell Appreciated Land appeared first on Roger Rossmeisl, CPA. If you subdivide it, develop the resulting parcels and sell them off for a hefty profit, it could trigger a large tax bill.

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RogerRossmeisl

NOVEMBER 8, 2023

Certain industries — for example, construction, real estate, manufacturing and transportation — are usually more vulnerable to employee theft, according to the Association of Certified Fraud Examiners (ACFE). The post Don’t Let Your Industry Be Your Fraud Risk appeared first on Roger Rossmeisl, CPA.

Real Estate 177

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CPA Practice

OCTOBER 23, 2023

Joshua Lance, founder and managing director of Chicago-based Lance CPA Group and a six-time “40 Under 40” honoree by CPA Practice Advisor , passed away on Oct 21. In a post on Instagram , Lance CPA Group said its offices will be closed today to “honor our friend.” “We He was 40 years old.

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CPA Practice

NOVEMBER 6, 2023

State CPA Society News & Updates is a round-up of recent announcements and initiatives by CPA associations in the United States and its territories. At WilkinGuttenplan, she focuses on the real estate industry and high-net-worth individuals. We could not be prouder of these two emerging leaders.

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Anders CPA

MAY 21, 2024

Qualifying as a real estate professional allows you access to a powerfully beneficial tax status but strict requirements around active and material participation determine who is eligible for the designation. Not all real estate or rental property activities count toward the tests. What Counts as Active Participation?

Real Estate 64

Real Estate Non-Profits Tax accounting and finance 64

CPA Practice

MARCH 16, 2023

Home prices nationally should bottom out in 2023 then return to a more normal growth rate, according to a Zillow® survey of housing experts. Economists and housing experts polled in the latest Zillow Home Price Expectation (ZHPE) survey expect home prices to fall 1.6% through Dec.

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Going Concern

OCTOBER 3, 2024

Sign up now to view the complete candidate list and connect with potential hires.

Real Estate 110

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Going Concern

OCTOBER 20, 2023

Local CPA weighs in on accountant shortage [ WMDT ] The Salisbury, MD news spoke to a UHY partner about the issue. CPA at UHY Group Mark Welsh tells 47ABC that recruiting slowing down has meant firms are turning to AI, Bots, and international workers to help fill demand, raising prices as much as ten percent for end-users. Welsh said.

CPA 111

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Withum

JULY 29, 2024

Every real estate investor’s goal is to earn income from the cash flow and the appreciation of their investment. Unique to real estate capital gains, a portion of the gain will be subject to depreciation recapture that represents the total of the depreciation deductions taken for the period of ownership, at a rate of 25%.

Real Estate 52

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Going Concern

JULY 25, 2024

TAX AND ACCOUNTING CANDIDATES FTE Senior Tax and Accounting | Candidate ID #22044344 Certifications: CPA in process Education: BS Accounting Experience (years): 10+ years accounting experience Work experience (detail): 10+ years in public accounting Averages 200 returns prepared per tax season Quarterly financials, draft SBA loan submittals Tax planning (..)

Real Estate 105

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Going Concern

SEPTEMBER 5, 2024

Sign up now to see the complete candidate list and connect with potential hires.

Real Estate 105

Real Estate accountant Account accounted 105

RogerRossmeisl

APRIL 28, 2024

Take, for example, a real estate developer who buys a parcel. How Experts Put a Number on Them appeared first on Roger Rossmeisl, CPA. But in most cases, the benefit-of-the-bargain method results in greater restitution for victims. The post Got Fraud Losses?

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Going Concern

AUGUST 29, 2024

With our Always-On Recruiting service, access a pool of top remote accounting candidates without any upfront costs. Sign up now to see the complete candidate list and connect with potential hires.

Real Estate 105

Real Estate accountant Account accounted 105

CPA Practice

JANUARY 30, 2024

Founded 20 years ago by Tracey Rink and Rick Kasperski, Kasperski Dinan & Rink CPAs has provided a wide range of services to such clients as real estate entities, printing, manufacturing, and construction companies, as well as businesses in the retail and high-tech industries.

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Anders CPA

APRIL 26, 2022

Owning rental real estate can be a great supplemental source of income in addition to a normal day job. Determining your level of involvement is key to the tax treatment of the income/losses that the real estate generates. Real Estate Professionals. Certain actions and tests are necessary to be eligible.

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CPA Practice

MAY 10, 2024

State CPA Society News & Updates is a selection of recent announcements and initiatives by CPA associations in the United States and its territories. The Illinois CPA Society (ICPAS) , one of the largest CPA societies in the U.S., Wolfe, CPA | Owner, Larry J. Wolfe, Ltd. Experienced Leaders • Anna C.

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SkagitCountyTaxServices

MARCH 17, 2022

Pointers From Padgett & Padgett, PLLC CPA For Handling Business Debt “Creditors have better memories than debtors.” – Benjamin Franklin. Far better you transfer your personal credit card balance to a clearly designated business credit card (same deal with auto loans and real estate). Let’s jump in.

CPA 95

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Anders CPA

JULY 23, 2024

Real estate developers in Missouri have access to dozens of state and federal tax credits that can help you maximize profitability and minimize costs. Navigating the array of tax credits available to real estate developers in Missouri can be complex, but the potential benefits make it well worth the effort.

Real Estate 52

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MyIRSRelief

APRIL 15, 2022

Unfiled tax returns, IRS tax exams, audits, appeals, EA, CPA, Tax lawyer. Unpaid delinquent back taxes , Payroll 941 tax problems , IRS officers/agent help, Penalty abatement, Release wage levy, garnishment, attachment, Release bank levies, Release tax liens from your real estate, Don’t let the IRS or CT state ruin your life.

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CPA Practice

AUGUST 21, 2024

Background : Normally, investors in passive activities in which they don’t “materially participate,” like most real estate activities, can take deductions only up to the amount of their passive income for the year. There are three key requirements for qualifying as a real estate professional.

Real Estate 115

Real Estate Tax Construction 115

CPA Practice

OCTOBER 16, 2023

Rahill, CPA/PFS, JD, LL.M., Here’s how this home sale strategy can help your clients be more tax savvy while navigating today’s real estate market. For example: Rental real estate is considered like-kind property; real estate investors can exchange rental property for other rental property.

Sales 122

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CPA Practice

JANUARY 19, 2023

The tax law provides generous tax breaks to investors in real estate, but there are several key tax pitfalls to watch out for. Real estate is automatically treated as a passive activity. However, you can use up to $25,000 of loss to offset non-passive income if you are an active participant in a real estate activity.

Real Estate 122

Real Estate Tax tax return income tax 122

CPA Practice

JANUARY 3, 2024

State CPA Society News & Updates is a round-up of recent announcements and initiatives by CPA associations in the United States and its territories. The California Society of CPAs is hosting the Real Estate Virtual Conference on January 30, 2024.

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