Ivy Ting-Wimberly

Tax Reform Creates Taxes on Employee Fringe Benefit for Bicycles

Tax Reform Creates Taxes on Employee Fringe Benefit for Bicycles Tax reform created taxes on the employee fringe benefit for bicycles. You could (and can) deduct your costs for reimbursing employees for their qualified bicycle transportation costs. But tax reform now...

Home Office with More Than One Business

Home Office with More Than One Business The office-in-the-home deduction produces good to excellent tax savings by turning personal house expenses into business deductions. Additionally, it enables you to deduct big vehicle expenses by eliminating nondeductible...

Rental Property as a Business Yields Big Benefits

DECEMBER, 2017 Rental Property as a Business Yields Big Benefits If your rental property activity meets the definition of a trade or business activity, then your rentals produce the best possible tax benefits. In general, you report your rental properties on Schedule...

Tax Reform and Rental Real Estate Deductions

DECEMBER, 2017 Tax Reform and Rental Real Estate Deductions Two scary words in tax reform are “fairness” and “simplification.” In most cases, this combination raises your taxes and makes the law more complex. As you likely know, tax reform is in the air again, and it...

Cashing Out Real Estate Profits without Section 1031

Cashing Out Real Estate Profits without Section 1031 Paying taxes on the sale of your real estate is voluntary. You do not need to volunteer. Whenever you can, avoid the outright taxable cash sale of investment property. To avoid taxes while you build your portfolio...