by Mary Eltawil | Dec 31, 2022 | AZREIA, Cost Segregation, David J. Hawks Tax & Accounting, Newsletter
By David J. Hawks |David J. Hawks If you are a property owner, a cost segregation study can be a great way to accelerate depreciation deductions and save you money on your taxes. What is Cost Segregation? Cost segregation is a commonly used strategic tax planning tool...
by Mary Eltawil | Nov 1, 2022 | AZREIA, David J. Hawks Tax & Accounting, Newsletter, Rentals, Taxes
By David J. Hawks | David J. Hawks Rental properties can be a great investment. They can also provide helpful tax benefits. To maximize the tax benefits of a rental property, it is essential to know which expenses are deductible. The short answer is that most expenses...
by Mary Eltawil | Sep 1, 2022 | AZREIA, David J. Hawks Tax & Accounting, Newsletter, Tax Law
by David J. Hawks | David J. Hawks, CPA, EA On August 16, President Biden signed the 2022 Inflation Reduction Act (IRA), a $750 billion healthcare, tax, and climate bill. Here are some tax highlights that you should be aware of. Health Premium Tax Credit – The...
by Mary Eltawil | Aug 1, 2022 | AZREIA, David J. Hawks Tax & Accounting, Newsletter, Tax Law
By David J. Hawks | David J. Hawks, CPA, EA With the end of 2021 came several tax laws that expired. These laws require Congressional extender bills to allow the laws to remain in force and be retroactive back to the beginning of 2022. Congress may not be able to...
by Molly Matthews | Jul 1, 2022 | AZREIA, David J. Hawks Tax & Accounting, Newsletter, Real Estate Professional Election
by David J. Hawks | David J. Hawks, CPA Rental real estate is generally a passive investment in the eyes of the IRS. Under Internal Revenue Code Section 469, a taxpayer may only offset losses from a passive activity against income from a passive activity. This means...
by Maureen Laupp | Apr 1, 2022 | David J. Hawks Tax & Accounting, Investing, IRA's, Newsletter, Tax Law
The use of self-directed IRAs for real estate investing has grown in popularity as investors seek to reduce their tax burdens and increase their rate of return on their investments. The benefits of owning property in an IRA include appreciation in value and...