Historically, federal laws have prevented states from interfering with interstate commerce. Specifically, the interstate commerce clause in the U.S. constitution, statutes like P.L. 86-272 and the Supreme Court’s 1992 decision in Quill v. North Dakota, prevented some other state from making your … [Read more...] about Accounting for Sales Taxes on Internet Sales
Articles
Real Estate Tax Traps: The Three Biggest Mistakes
New and potential real estate investors, unfortunately, often fall into one or more serious tax traps. Accordingly, the discussion that follows identifies these traps, or mistakes, and then ways to side-step the trouble. Some of the material covered in the paragraphs that follow is a little, … [Read more...] about Real Estate Tax Traps: The Three Biggest Mistakes
Analyzing Multifamily Real Estate Investments
Analyzing multifamily real estate investments is challenging because such analysis requires both complicated tax and financial calculations. To show clients and others how this analysis is supposed to work, our firm created a simple starter Excel workbook. You can download the multifamily real … [Read more...] about Analyzing Multifamily Real Estate Investments
Early Mortgage Repayment: Pros and Cons
When you work through the numbers, the savings that stem from early repayment of a loan can seem almost too good to be true. Can a few dollars a month really add up to, for example, $25,000 of savings? Well, sort of. When you save money over long periods of time and let the interest compound, … [Read more...] about Early Mortgage Repayment: Pros and Cons
How to Compare Rental Property Investments
Analyzing real estate investments is important. By doing so, you’re likely both to make smarter investments—and to avoid costly mistakes. Unfortunately, most individual real estate investors have no idea of where to even begin. That’s too bad. In many cases, the analysis isn’t difficult. Step 1: … [Read more...] about How to Compare Rental Property Investments
Converting from Cash Basis Accounting to Accrual Basis Accounting
Sometimes businesses want to know how to convert from cash basis accounting to accrual basis accounting so they get more useful accounting information. Other times, as a result of tax laws, businesses may be required to figure out how to convert from cash basis accounting to accrual basis … [Read more...] about Converting from Cash Basis Accounting to Accrual Basis Accounting