YOU WONT BELIEVE WHAT YOU CAN WRITE OFF! Disclaimer Disclaimer: - - PowerPoint PPT Presentation
YOU WONT BELIEVE WHAT YOU CAN WRITE OFF! Disclaimer Disclaimer: We made assumptions and used brevity, simplicity and professional judgement in preparing this information. Your specific situation may vary. We recommend contacting a CPA
Disclaimer: We made assumptions and used brevity, simplicity and professional judgement in preparing this information. Your specific situation may
making any important decisions. We are not endorsers of any software mentioned in this presentation. Thank you!
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accounting, tax compliance and planning, and payroll
Heroes, we are their Sidekicks
Professionals, Small Business Owners and Startups
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✓ Certified Public Accountant (CPA) ✓ Chartered Global Management Accountant (CGMA) ✓ Co-Founder of The Heroes Group ✓ Real Estate Expert ✓ Ice Cream Enthusiast
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The Landlord
The Flipper
The Real Estate Agent
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ROGUE REAL ESTATE BROKER Commissions
ROGUE THE REAL ESTATE AGENT, NO COMPANY
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ROGUE REAL ESTATE BROKER ROGUE P. A.
Commissions Paycheck & Distributions
ROGUE THE REAL ESTATE AGENT, WITH COMPANY
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LEX LUTHOR REAL ESTATE BROKER LUTHOR P. A.
Commissions
LUTHOR RENTS LLC
Paycheck & Distributions Rent Distributions
LEX LUTHOR, THE LANDLORD
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FLASH REAL ESTATE BROKER FLASH P. A.
Commissions
FLASH FLIPS INC.
Paycheck & Distributions Paycheck & Distributions
THE FLASH, THE FLIPPER
issues)
unevenly and randomly during the year)
retirement planning
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Tower
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○ Lease if you like a new car every few years ○ Own if you are a road warrior or like to buy & hold
○ Use one that is automatic ○ We like Everlance, check our website for others
○ Gas, service, car wash, repairs, tires, etc. ○ Must use actual cost in year 1 or not allowed to use it in the future
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inclusion amount for vehicles that are valued at more than $19k
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passenger rules apply
○ $8k bonus in Y1 ○ $3k depreciation Y1
end via loan
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○ Or $18k + 25% of salary after $18k deferment
○ Opportunity to invest in rental properties, investment notes, etc.
○ Must pay interest and make payments
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○ Provide more than ½ of total personal services in real property trades and 750 hours of service ○ Typically determined separately for each rental
○ Made once and finding for all future years
○ Must be made yearly for each tax return filed ○ $500 per invoice or item allowed
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