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Save Taxes: Negotiate A Reduction in Your Assessed Value

Prairie Eco-Thrifter

If you own real estate, you have been, or someday will be, confronted with a rise in your assessed property value. This usually leads to an increase in your real estate taxes! Increases in your assessed value can sometimes be negotiated downward, saving you tax money. Real estate market movement.

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3 Simple Office Supplies for Smooth Tax Prep

Family Balance Sheet

We have our 2011 tax meeting this week with our accountant. We own an S corporation and have a few employees, so we have a CPA prepare our taxes every year. Honestly, he is worth his weight in gold; the tax rules make my head spin. In all honesty, tax season goes fairly smoothly for us. Are you prepared for tax season?

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7 Reasons to Lease Your Vacation Condo

Prairie Eco-Thrifter

It was a real hassle. I developed a web site, took out a VRBO ad, drew up a guest services contract, responded to hundreds of inquiries, took payments, collected and paid sales tax and refunded security deposits. The county also may consider your rental a ‘business’ and charge commercial tax rates.

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How is Your Vacation Rental Doing?

Prairie Eco-Thrifter

It seemed reasonable to devote a greater portion to real estate, in order to further diversify our portfolio. If we had put that quarter of a million dollars into a tax exempt bond fund at the time, it would have earned around 4% in yearly income, or around $8000 – every year for the past 10 years.

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How to Determine Home Value

Savings Corner

The long answer depends on the market and whether you’re asking a lender, an agent or a county tax assessor. Knowing how to calculate your home’s value with the help of online tools and trained professionals better prepares you to buy, sell, refinance, tap into your home’s equity — or even negotiate lower property taxes.

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50 Best Small-Business Ideas – NerdWallet

Savings Corner

If you have a CPA license, you can help business owners file taxes, generate balance sheets and other accounting documents and make your professional recommendations about your client’s bottom line. Tax consulting If you’re a CPA or other enrolled agent, you might consider opening up a service specifically for business taxes.

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11 Things I learned After Owning a Vacation Property

Prairie Eco-Thrifter

I also wanted a bit more diversification in our portfolio and figured an additional piece of real estate could help that. It was a brand new small development built on the site of a previous resort. The tax code for second homes used as rental properties is incredibly complex here in the US. An accountant is required.

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