Post-COVID demand for short-term rentals has skyrocketed on sites such as Airbnb and VRBO. Investors are attracted to these properties to generate passive income, and are jumping into the market. Listings are expected to grow another 20.5% in 2022. Since many short-term rental properties are owned as passive investments by non-real estate professionals, any investors...
Spending a little time on mid-year planning will make for a smoother and more successful 2022! Doctors, dentists, surgeons, and other medical practitioners should take a hard look at the last 6 months, and see how close they have come to their operational and financial goals. It may be time to reevaluate and refocus on...
Business owners should focus on growing their profits and meeting their sales goals. But to build “value” in your business and make it attractive to buyers, have you ever considered making it a primary goal to set up your business so that it can thrive and grow without you? A business that is not dependent...
Taxpayers who moved to another state during the pandemic to work remotely have been dealing with more complicated tax issues, and so have their employers! The pandemic prompted many people to sell or rent their homes to relocate to larger houses and across state lines, creating complex multistate tax issues on both the individual and...
Distributing K-1s** – Whose Responsibility Is It Anyway? It is common knowledge that taxpayers like partnerships, LLCs, S-Corporations and Trusts are required to distribute annual K-1’s to their partners, shareholders, and beneficiaries, respectively reflecting their share of the taxable income or loss and other tax related items. For our many CRE clients, the process of...
