Cardinal Tax Newsletter
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The Reason Not to Use an S-Corp for Rentals
As real estate investors, structuring your business properly is crucial to optimizing tax benefits, ensuring flexibility, and protecting assets. One common entity used for business owners is the…
4 min read
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Unlocking the Power of Real Estate Professional Status (REPS): Strategies for Real Estate Investors
Real estate investing offers numerous tax benefits, but one of the most lucrative is qualifying as a Real Estate Professional (REP). Achieving REP status allows investors to offset…
4 min read
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Navigating the Complexities of Real Estate Tax Strategies
The allure of tax savings is irresistible. Social media is filled with tax professionals touting strategies like the Short-Term Rental (STR) loophole, promising to slash tax liabilities and…
4 min read
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10 Money Saving Strategies for Small Business Owners
As a small business owner, strategically reducing your tax burden is essential for maximizing your income and achieving your financial goals. This involves leveraging tax deductions, taking advantage…
4 min read
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Bookkeeping for Roofers
Bookkeeping is essential for roofing contractors. It provides a clear financial picture, enabling informed decisions, tracking profitability, and planning for the future. Effective bookkeeping helps monitor cash flow,…
4 min read
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SMB Owner Wrote off $308,000 using the August Rule, Gets Hammered by IRS
The Tax Court’s recent decision in Kunjlata J. Jadhav and Jalandar Y. Jadhav v. Commissioner serves as a stark reminder of the importance of proper documentation and reasonable…
4 min read
