Understanding the basics Property taxes are local taxes that are determined by the local officials. The property tax process starts off with valuing your property, setting your tax rate, and finally collecting your taxes. However, the entire process is governed by Texas law. In Texas, property taxes are a major source of revenue and play a … Continue reading A Complete Guide On The Texas Property Tax Process
When it comes to Business Personal Property, handling it for a single property can be exhausting when the due dates are near. What will be the scenario when you are supposed to manage multiple properties? It might be a big burden if you don’t have an organized plan. But here are few tips to keep … Continue reading How To Tackle Business Personal Property Taxes Effectively
In general, the IRS has three years of time to audit after you have filed your taxes. In cases where the taxpayer has omitted more than 25 percent of his income, the three years double up to six years and this error is called the substantial understatement of income. It also gets doubled up if … Continue reading Tax Errors That Can Increase The IRS Audit To About Six Years
It is a must for every homeowner to make sure that you are not paying too much on property taxes than you ought to pay. But how do you check it and how can you reduce your property tax burden is the big question. Here are two ways to do it. The first way mentioned … Continue reading Is Your Texas Property Tax Bill Worrying You?
The W-4 form helps to let your employer know the exact amount to withhold in your paycheck for tax purposes. Filing this form can help you to stop overpaying your taxes and have some extra money in your pocket. The W-4 form is from the IRS and once you file it for a tax year, … Continue reading Significance Of W-4 Form
The tax season has already begun and you might be really busy filing your taxes or following up on the due dates. It’s common for your mailbox to be filled with emails of bills and appeal forms during this season. But there is an astute way to reduce your eleventh-hour rush when you start preparing … Continue reading Top 3 Benefits Of Property Tax Tracking
Real estate investors have two options to expense their real estate costs. One is the traditional straight-line method and the other one is the cost segregation method. The second method renders a lot of benefits to real estate investors. This includes accelerated depreciation, decreased taxable income, and an increase in cash flow. After the CARES … Continue reading Can A Cost Segregation Study Help You Reduce Your Tax Burden?
Commercial Property Owners May Use Bonus Depreciation To Significantly Reduce Income Taxes. Cost Segregation is not a new concept, but provisions contained within the Tax Cuts and Jobs Act of 2017 have ignited interest and turbo-charged the positive impact significantly. The point source for these changes? Bonus Depreciation! Let’s take this a step at a time and … Continue reading How Commercial Property Owners Can Use Bonus Depreciation To Reduce Income Taxes
If you have plans to sell your property and buy another property from the money gained from your recent sale then you must definitely know about the 1031 exchange. This 1031 exchange is basically helpful for investment property owners who are constantly buying and reselling in real estate markets. WHAT IS 1031 EXCHANGE? The exchange … Continue reading What Is 1031 Exchange?
Say, you opted to file a protest on your property taxes and you just had a hearing before the appraisal review board. If you do not agree with the decision made by the ARB, there are three options you have in hand to appeal. You can either appeal to the district court, opt for binding … Continue reading If You Don’t Agree With The ARB’s Decision, Here Is What You Can Do
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