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It's that time of the year! Year End Tax Planning is very important for especially for real estate investors. A lot has happened this year in the real estate market and the general economy. It impacts the portfolio of many Real Estate Investors in many ways. Not just value of the holding in our hands, how we want to invest in coming years and even our retirement. It also impacts tax issues that will be confronting us in the upcoming tax filing season. There is also preparation we have to do in our tax planning with a view of the economic trend in the coming year. Now is prime time for investors to put tax-planning strategies into place that can help reduce their liability for 2013.
It's looking more and more like Tuesday will be a split-screen day: The government will shut down, and Obamacare will open for business. Barring some last-minute deal, which is getting less likely with each passing moment, the federal government will shut down on Tuesday because the House and the Senate are unable to pass a spending bill that resolves their deep and persistent differences over Obamacare.No matter which side you are on, I wanted you to know the top 10 things business owners need to be aware of with ObamaCare:
The Patient Protection and Affordable Care Act, known as Obamacare, imposes five new taxes and a four-part insurance mandate in 2013.
Here is a continuation of my article on TAXMAGEDDON and how it will affect all Americans in 2013. Part 1 is HERE
Third Wave: The Alternative Minimum Tax and Employer Tax Hikes
When Americans prepare to file their tax returns during the 2013 tax season (January through April), they'll be in for a nasty surprise—the AMT won't be held harmless, and many tax relief provisions will have expired. These tax increases will be in force for BOTH 2012 and 2013. The major items include:
- The AMT will ensnare over 31 million families, up from 4 million last year. According to the Tax Policy Center, Congress' failure to index the AMT will lead to an explosion of AMT taxpaying families—rising from 4 million last year to 31 million. These families will have to calculate their tax burdens twice, and pay taxes at the higher level. The AMT was created in 1969 to ensnare a handful of taxpayers.
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Our Free Assessment allows you to find out just how much you could have saved over the years, and how much you could save in the future. Assessments can find missed deductions, potential audit triggers and identify compliance and asset protection risk.
For those about to file taxes, we offer a free consultation. Learn how you can legally reduce the amount you pay out, personally, or maximize the financial efficiency of your business as a whole. We also advise on business formation and business restructuring.
At the Wealth Building CPA we teach our students how to become savvy and wealthy investors without making costly mistakes. Our many articles, webinars and podcasts demonstrate how to use money and tax strategies to maximize profits and minimize losses. This aggressive approach will fast track you to financial success. We implement a lot of the teachings from renowned real estate and wealth building experts such as: Robert Kiyosaki, Robert Allen, Scott Scheel, Ron Legrand, Zig Ziglar, Carleton Sheets, David Lindahl, Robert Shemin, Dave Ramsey and many more.
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