Tax Blog


The Late Mark-to-Market Election

Those who trade stocks can take advantage of the mark-to-market election to convert capital losses into ordinary losses. This election is only available to “traders.” There are often questions as to when a taxpayers trading activities are s…


Using Debits & Credits to Record Transactions

When you record an accounting transaction, you need to make a debit to one account and a credit to another. […]
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Accounting for 1031 Like-Kind Exchange

Section 1031 exchanges are not new. But the rules have changed over time.  A Section 1031 or like-kind exchange is […]
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Why It Still Makes Sense to Invest in Real Estate

Investing in real estate has been one way to build wealth. And it makes sense to buy real estate even […]
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How to Record Operating Lease vs Capital Lease in Quickbooks

Are you renting a property or equipment for your business?  Accounting for a lease can be tricky given the recent […]
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How to Use Quickbooks for Real Estate: The Basics

Quickbooks is a convenient tool for real estate businesses. Since there are many types of businesses in real estate, your […]
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What is the Like-Kind Exchange Form 8824 All About?

Are you selling real property with plans of buying a new one of the same kind? If so, you may […]
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Form 5471: What Is It and Do You Need to File One?

Are you a U.S. shareholder of a foreign corporation? If you have been diligently filing all your returns and disclosures, […]
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What Every New Employer Needs to Know About Form 941

If you’re a business owner, you probably know about Form 941. But if it’s your first time to start a […]
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How to Add Credit Card Charges in QuickBooks

Most companies use credit cards to pay for supplies and services. And as a business owner, you need to know […]
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