Do you qualify for the home office deduction?
Under the TCJA, employees can no longer claim the home office deduction. But if you run a business from your home or are otherwise self-employed, this deduction may still be available to you. You might qualify if part of your home is used exclusively and regularly for administrative or management activities and you don’t have another fixed location where you conduct these activities. You also might qualify if you physically meet with clients/customers there or you use a storage area in your home exclusively and regularly for business. Contact us for details.
Have Real Estate Investors Learned From The Recession?
Ultimately, the Great Recession, whose effects we are still recovering from now (though it will likely have a huge impact on our society and economy for years to come) left some valuable lessons for professionals of all kinds in the real estate industry. My team and I certainly remember them, hard-won as they were.
Bitcoin-Only Real Estate Deals On The Rise
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Using only bitcoin, 20 homes have been sold worldwide, and that number looks to get bigger. In fact, the Miami, Fla., real estate agent that brokered two of those deals, Stephan Burke, says cryptocurrency will make up 25-30 percent of real estate sales in five years.
The problem with telemedicine
A recent study sponsored by Avizia, a telehealth provider based in Reston, Va., shows that after all of the hype about telemedicine being the future of medicine, the vast majority of patients still don’t take advantage of the technology. In fact, 82 percent of patients surveyed said they don’t use a telemedicine service.
Hospitals must overcome these challenges to transition from fee for service to value-based care
Executives must address redundant services, lengthy claims processing and reimbursement cycles, among others.
Health Plan Victims of Healthcare Data Breaches Surge 1,000%
The total number of individuals impacted by healthcare data breaches at health plans surged by more than 1,000 percent in the first five months of 2018, according to Fortified Health Security’s 2018 Mid-Year Horizon Report.
Is the New Tax Law a Boon for Residential Rentals?
Angela Adolph, an attorney and tax law specialist, explains why the recent tax legislation gives additional appeal to renting a home, rather than buying. It’s a trend that investors should bear in mind.
Get SMART when it comes to setting strategic goals
Many businesses struggle to reach the various goals they’ve set to accomplish their overall strategic plans. One solution to consider: the SMART approach. “S” is for “specific”; identify the who, what, where, when and why of each goal. “M” is for “measurable”; select metrics to track progress. “A” is for “achievable”; choose goals that are neither too hard nor too easy. “R” is for “relevant”; every goal must support a stated strategic plan. Last, “T” is for “timely”; apply feasible timelines to each goal. We’d be happy to explain further and offer other ideas.
Why the “kiddie tax” is more dangerous than ever
Once upon a time, some parents attempted to save tax by putting investments in the names of their young children. To discourage such strategies, Congress created the “kiddie” tax, which has gradually become more far-reaching. Now, under the TCJA, the big, bad kiddie tax is more dangerous than ever. For 2018, an affected child’s unearned income beyond $2,100 generally will be taxed according to the brackets for trusts and estates. As a result, in many cases, children’s unearned income will be taxed at higher rates than their parents’ income. Contact us for details.
Business deductions for meal, vehicle and travel expenses: Document, document, document
Some common deductions for businesses are meal (generally 50%), vehicle and travel expenses. Deductibility depends on a variety of factors, but proper documentation is one of the most critical. Following some simple steps can help ensure your deductions will pass muster with the IRS. First, keep receipts, canceled checks or similar documentation. Also, track the business purpose of each expense (and don’t wait until year end or an IRS audit). Finally, if you reimburse employees, require them to provide such documentation. Contact us for more information.