David J. Hawks Tax & Accounting

Does it Make Sense to Buy an Investment Property with an IRA?

2022-04-01T11:11:23-07:00April 1st, 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 tax-deferred growth on rental income and capital gains. Although there are benefits [...]

What Can I Deduct on My Tax Return?

2022-02-28T13:09:02-07:00February 28th, 2022|David J. Hawks Tax & Accounting, Newsletter|

One of the most frequently asked questions I hear is, “what can I deduct?”. It makes sense, since deductions reduce taxable income, thereby reducing tax. And who doesn’t want to reduce tax? So, let’s talk about deductions. Deductions reduce your income before you calculate tax. Credits, on the other hand, can directly reduce the amount [...]