So you think you have a rental property? Five factors identified by the Tax Court to help in this classification for rental property taxation. Many times a house or condo is purchased for personal use and then converted to income-producing... Read More →
Usually the “Section 179” tax code provision is thought of with assets such as computers and equipment. But for the last few years, it also applies to certain types of real property leasehold improvements. The two primary areas are retail... Read More →
As first read on Accounting Today Magazine, Online Ed. New York (March 14, 2011), Written By Michael Cohn With the tax benefits of the 2009 stimulus ebbing, the tax burden is pushing slowly higher and is now at its highest... Read More →
Starting January 1, 2011, if you get a 1099 for rental income, you will have to issue Form 1099-Misc to service providers.