Knowledge Center
We want to empower you to make financially forward decisions and equip you with the tools to do so! In addition to working with our team, you can leverage this library of knowledge to accelerate your financial objectives.
SEARCH TOPICS
Understanding the Standard vs Itemized Deduction
The standard deduction is a simple and effective way to reduce your taxable income without the complexity of itemizing deductions. It streamlines the tax filing process and ensures you benefit from a reduced tax liability.
Just Write-Off Your Personal Chef
Why is this bad advice? There’s two sections of the tax code this will run afoul of - 162 and 262.
Commuting Deductions for Rental Properties
A win for the taxpayer! Once they were able to prove that they did have a home-office under Section 280A rules, they were able to deduct all travel-related expenses to the property as well as count those travel hours as part of Real Estate Professional work hours.