The appraisal district might have inflated your value. Fight back! The Texas Tax Code allows you to protest, but it is a complex process. Hire a commercial property tax attorney to navigate the deadlines & work to get the best outcome. #propertytax #protest #commercialproperty #texas #savemoney
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When it comes to income taxes, an LLC could be a Disregarded Entity, a Partnership, a C Corp, or an S Corp. All have their own particular strengths and weaknesses. An LLC's main function is to offer legal protection during the course of business.
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Capitalizing Attorney's Fees: A Tax Strategy for Property Cases Occasionally, the tax system offers a strategic move that can alleviate financial pressure. One such maneuver involves capitalizing attorney's fees in cases of property-related disputes. If you find yourself seeking recovery for property damage or loss, the pain of incurred attorney's fees can be reduced. These costs could be added to your property's basis, effectively reducing any taxable gain from the transaction. For instance, if you receive a $300,000 settlement for property destruction, with $100,000 attributed to legal costs, and your basis in the property is $200,000, you can adjust the basis to include legal fees. This way, you can try to limit gain and soften the tax impact. It's a tactical approach, one that requires careful consideration and, often, professional guidance to determine if your situation qualifies. #kimandrosadollp #taxlawyer #tax #settlement #attorneysfees
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Owners of businesses that are pass-through entities for income tax purposes (S Corporations, partnerships and most limited liability companies) are aware of the likelihood that their ownership will someday be passed to their descendants. Any owner that investigates this learns that the transfer process can, and almost invariably will, involve unfavorable consequences. If you are such an owner you should be aware of the tax and business succession advantages that are uniquely available under a so-called intentionally defective grantor trust (IDGT). In their latest blog post, directors David G. Henry and Rebecca Winge explain how this works. #estatesandtrust #tax #legal https://lnkd.in/gf-k4iNF
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Discover the latest Texas Real Estate Commission (TREC) rule coming into effect on January 1st, 2023, designed to provide much-needed tax relief for real estate agents in Texas. Stay informed and learn how this rule could positively impact your career in real estate. Don't miss out on this crucial update – watch now! https://lnkd.in/eUuqmK_u #TaxShield #HopkinsCPAFirmPC #IRSDebt #IRSProblems #StopIRS #FixIRS #IRSSolution #TaxHelp #TaxRelief #BackTaxes
How Texas Real Estate Commission Law (TREC) Can Change Real Estate Agents Tax Situation in 2024
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Not sure what the next steps are for your property tax statement? Our attorneys have successfully secured millions in tax refunds for our clients. We help property owners in New Jersey, including those with commercial, industrial, special purpose, and residential properties. We'll help you determine when to file an appeal and when to not take action. Schedule a free consultation today: https://lnkd.in/dzncTCR #MRODLaw #LawFirm #NewJersey #NJ #PropertyTax #Appeal #Taxes #Consultation
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Governor Ivey recently signed H.B. 187 into law as Act 2024-113. This law extends the deadline for a pass-through entity to elect to be taxed as an electing pass-through entity in Alabama. An electing pass-through entity is an S corporation or partnership that has elected to pay Alabama income tax at the entity level. Read on to learn how this may impact you. https://bit.ly/4cubWmS
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Governor Ivey recently signed H.B. 187 into law as Act 2024-113. This law extends the deadline for a pass-through entity to elect to be taxed as an electing pass-through entity in Alabama. An electing pass-through entity is an S corporation or partnership that has elected to pay Alabama income tax at the entity level. Read on to learn how this may impact you. https://bit.ly/4cubWmS
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Financial Advisor Specializing in Wealth Accumulation & Preservation for Physicians, Business Owners, and Executives.
Adjusting your W-4 to better match your tax liability with withholdings is a tax strategy to consider. It prevents overpaying or owing large amounts at tax time, aligning your finances with your current situation. *TSG Financial Strategies LLC does not provide tax or legal advice.
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Governor Ivey recently signed H.B. 187 into law as Act 2024-113. This law extends the deadline for a pass-through entity to elect to be taxed as an electing pass-through entity in Alabama. An electing pass-through entity is an S corporation or partnership that has elected to pay Alabama income tax at the entity level. Read on to learn how this may impact you. https://bit.ly/4cubWmS
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Governor Ivey recently signed H.B. 187 into law as Act 2024-113. This law extends the deadline for a pass-through entity to elect to be taxed as an electing pass-through entity in Alabama. An electing pass-through entity is an S corporation or partnership that has elected to pay Alabama income tax at the entity level. Read on to learn how this may impact you. https://bit.ly/4cubWmS
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