Many doctors are in debt their first few years of work because of their medical school loans and the interest that the loans accrue. In addition, many doctors are paying mortgage interest on a house. While the interest deduction on student loan payments has limitations based on income, mortgage interest does not. As a result, it is usually beneficial for doctors to pay down their student loan debt before their mortgage.
On January 13th, 2020, New Jersey joined Connecticut, Louisiana, Oklahoma, Rhode Island, and Wisconsin in establishing a new tax for pass-through entities. This act, called the “Pass-Through Business Alternative Income Tax Act”, provides for a voluntary tax available to S Corporations, Partnerships, and LLCs taxed as partnerships.
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Financial statement reviews provided limited amounts of business assurance. During a review, an auditor attempts to determine whether the financial information they're examining is accurate or not.
Continue reading →Hiring a real estate accountant can help you both prepare reports and create winning financial strategies to help your firm succeed. With in-depth knowledge of both taxes and real estate regulations, they can help you navigate the often confusing world of real estate transactions.
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No matter what sort of industry you work in, financial statements are necessary to prove that your business is legitimate. A compilation, a review, and an audit are all types of financial statements, but what do they mean, and which one is best suited for your business needs?
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The New Jersey Bulk Sale Act is designed to protect buyers from taking on tax debt from selling assets related to business. Keep reading to learn more about how it can help you.
Continue reading →A 1031 exchange can be a smart way to exchange investment properties while deferring taxes. It can also be an excellent estate planning tool. Keep reading to learn more about Section 1031, and how it can help you.
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In recent years the IRS has been on a mission to identify and investigate US citizens hiding assets offshore. There have been countless news articles detailing how international banks make settlements to help US citizens avoid taxes. Recently the release of the Panama Papers and the Paradise Papers (Appleby) opened the world to how the top 1% of the wealthy stash their assets offshore.
Continue reading →Recently the release of the Panama Papers and the Paradise Papers (Appleby) opened the world up to how the top 1% of the wealthy stash their assets offshore.
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I’ve previously written about successful 1031 transactions we’ve worked on at SRG Advisors, LLC, from smaller $1 million dollar transactions to $250+ million.
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In addition to saving our clients on taxes, we provide peace of mind that their business and personal returns are prepared correctly.
Continue reading →At SRG Advisors, LLC we believe in more than just being tax preparers; we strive to be our clients’ financial quarterback. CPA’s are the most trusted advisors to their business and personal clients. Clients who hire the right CPA and ask questions before making decisions will always come out ahead.
Continue reading →My specialty at SRG Advisors, LLC is real estate. While our clients hail from varied industry groups, some of the largest, challenging, and rewarding ones are in the real estate industry. Today I would like to highlight some simple and complex transactions we have worked on in this field, many that have involved 1031 exchanges.
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The owners of a multi-million dollar manufacturing company were looking to hire a part-time CFO to review their accounting records and to give them tax advice.
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