Welcome to the exciting world of K-1 forms! Okay, let’s be honest, K-1 forms may not be the most thrilling topic, but understanding them can save you some serious tax headaches. In this blog post, we’ll break down everything you
A K-1 form is a tax document used to report income, deductions, and credits for partners in a partnership, shareholders in an S-corporation, or members of a limited liability company (LLC). Here are the steps to use a K-1 for
Key points in this article: The effects of rising home prices on Real Estate Agents tax liabilities Long-term methods for reducing your overall tax exposure Compensation alternatives that save on taxes We have been meeting with several real estate professionals.
Tax-smart moves that don’t involve tax deferral There are several methods that tax planners can use that are not part of the tax deferral strategy category and that might find new and improved legs as this change happens. Contribute to
‘Taxmageddon’ deferral strategies that you might want to punt on Installment payments from asset sales Installment sales are designed to postpone the recognition of taxable gains until installment payments are received. Postponed gains will probably be taxed at the
What about ‘Taxmageddon’ should you be worried about? For years, the common belief has been that taxes, particularly income taxes, will be lower in the future for workers. That differing tax into the future almost always meant keeping more money
We’re currently looking for major overhauls in taxation for corporations and people in the coming years. General civil unrest, combined with decades-long examples of corporations and individuals paying no and very little taxes, is causing a groundswell of discussion in
