Tax Solutions

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Thinking About Saving Money.. Plan Now Before the End of the Year

2019-02-03T13:55:40+00:00

THINKING ABOUT SAVING MONEY…. START PLANNING FOR YOUR TAXES NOW  Neil Pastor Shnider, RPh, MBA, CPA  The 2004 year is rapidly coming to an end.  It’s not too early to start thinking about some tax tips to help reduce your tax bill to Uncle Sam.  The best way to save money on taxes is through planning, education and having good advisors.  Hear are some thoughts. Do you want to be a hero with your favorite charity?  If so, contribute appreciated stock to the charity and you will not have to pay the capital gain tax as if you sold the stock, [...]

Thinking About Saving Money.. Plan Now Before the End of the Year2019-02-03T13:55:40+00:00

How to Deal with Employment Taxes

2019-02-03T13:59:36+00:00

The employer MUST obtain an Federal EIN if they are going to have employees (See how to obtain an EIN). Federal Income Tax, Social Security and Medicare Taxes You generally must withhold federal income tax from your employees' wages. You withhold part of Social Security and Medicare taxes from your employees' wages and you pay a matching amount yourself. To figure how much to withhold from each wage payment, use the employee's Form W-4 and the methods described in Publication 15, Employer's Tax Guide and Publication 15-A, Employer's Supplemental Tax Guide (PDF). The Internal Revenue Service recently released instructions to help [...]

How to Deal with Employment Taxes2019-02-03T13:59:36+00:00

Self Financing Can Go Bad

2019-02-03T15:25:45+00:00

Seller-Financed Real Estate raises serious questions It is not uncommon for sellers to self-finance the real estate, both personal and business, that they want to sell. In many cases this may be the only way an owner can sell their property as many buyers cannot qualify for financing or the real estate will not satisfy the requirements of a lender. Also, buyers may not have the required funds for a down payment. So, how can the owner sell the property? They can carry the loan and self-finance the transaction. This means that the seller takes back a note (becomes the creditor) from the buyer to cover [...]

Self Financing Can Go Bad2019-02-03T15:25:45+00:00

Real Property and Lease Terms can cause Tax Issues

2019-02-03T18:00:12+00:00

How leases can affect Cash Flow Rental property lease terms can cost tax dollars Folks renting new office space or commercial stores need to understand the tax implications of the terms of the contract or lease. In many cases the landlord will pay a broker to aid in finding a new tenant. Also, some landlords will provide the tenant with incentives to sign leases such as, free rent for a period, improvements (called leasehold improvements), lower rent in early years and increasing over time, or actually give tenants cash to do their own improvements. All of these wonderful incentives have serious tax implications, from [...]

Real Property and Lease Terms can cause Tax Issues2019-02-03T18:00:12+00:00