Prosperl CPA | Accounting Blog

Though things might be tight economically for your Atlanta business, keep in mind, cutting corners can become a real issue. Take for example fake reviews that are so pervasive online. Some business owners are tempted to buy reviews to get their product or service seen online. If you’ve ever done that or been tempted to do that, let me just say: DON’T.  If Google catches it, they’ll not only flag… Read More

If the fear of taxes is preventing you from selling your investment property, seller-financed installment sales can enable you to defer those taxes. The installment sale can cut your tax bill by spreading out your profits over multiple years and put you in a lower tax bracket. An installment sale is a sale of eligible property where you receive at least one payment after the close of the taxable year… Read More

Still on the fence about getting your feet wet in the Real Estate Investment Pool? Real Estate Tax Write-Offs – You can amass expense deductions that are direct costs from your investments such as: Property tax and insurance; Mortgage Interest; Cost to maintain and repair the building. The costs of running your real estate business: Advertising, Office space Business equipment and materials, legal and accounting fees, related travel Depreciate Costs… Read More

Debt cancellation can help a beleaguered borrower survive but it also can trigger negative tax consequences. Cancellation of Debt (COD) Income Is Taxable. When a lender forgives part or all your debt, it results in “Cancellation of Debt (COD) Income. “ Although the general federal income tax rule is that COD Income counts as gross income that must be reported on your federal income tax return for the year in… Read More

Ultra-High Net Worth Individuals are those who have net worths of at least $30 million of shares in private and public companies, real estate, and personal investments. It’s easy to believe that secret investment strategies lead to such wealth but overall, the actual strategy is knowing how to make money work for you and taking calculated risks. Here are some of those strategies: Have a Strong Savings Strategy in Place…. Read More

How do you know if an investment property will be profitable? Rule Number One is STILL Location, Location, Location. After that, you can apply these rules: The One-Percent Rule The one-percent rule is simply a rule of thumb that investors use to help them narrow down their options quickly and efficiently. All the one-percent rule says is that a property should rent for a minimum of one percent of its total… Read More