Tax Savings

“Fresh Start” at the IRS – Part III

2012-10-08T15:14:38+00:00October 8th, 2012|Tax Law|

Fresh Start Offer in Compromise Despite late night advertising to the contrary, it is usually extremely difficult to get the Internal Revenue Service (IRS) to accept an Offer in Compromise (OIC) of your taxes. An OIC is essentially a negotiated settlement of your tax debt that allows you to pay less than the full amount [...]

Tax Warning

2019-03-05T23:44:17+00:00June 4th, 2012|Asset Protection, Financing, Legal Procedures, Tax Law|

Tax advisers, including our tax attorneys and accountants at Kingman Winslow, LLC, are already making special plans ahead of filing season next year, when they expect big problems if Congress doesn't confront major tax provisions set to expire at the end of 2012. For example, Income-tax rates, investment taxes, some itemized deductions, estate and gift [...]

WHAT’S NEW THAT WILL SAVE YOU MONEY ON TAXES FOR 2012?

2019-03-05T23:44:19+00:00March 27th, 2012|Tax Law|

There is always something new when it comes to tax rules and regulations that impact your real estate and business transactions. Missing these items can also leave you paying more in taxes then you are required to under the law. The following are a few changes, which will likely impact your taxes in 2012. It [...]

Last Minute Tax Tips

2019-03-05T23:44:24+00:00December 15th, 2011|Tax Law|

Getting read to wrap up your end of year finances? Here are some tips on those pesky taxes. The “Occasional Baby Sitting” Tax Exemption So if you need a baby sitter during the holidays keep in mind that it could be tax deductible! The current FICA threshold of $1,700 per calendar year will increase to [...]

Should I Pay Cash or Get a Mortgage?

2019-03-05T23:44:31+00:00May 25th, 2010|Uncategorized|

Is it more profitable to pay cash for an investment property or get a mortgage? In other words, should I leverage my new investment property or pay cash? As we all know, the main advantages of owning rental real estate are: Appreciation, Cash Flow, Tax Savings and Mortgage Principal Reduction (Leverage). Appreciation: Even in our [...]