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The sole proprietorship (SP) is the simplest form of doing business. No tax ID# or Employer Federal ID# is required. All of your income and expenses for your business are reported on Schedule C of your Form 1040 Tax Return-therefore, no extra return is required...

You can utilize these 4 tax strategies with an existing building, one that you are buying, or a building that you are renovating. These tax strategies with put cash in your pocket, or reduce or current tax liability.Accelerate depreciation on certain components of building Identify Repairs Allocate...

Owning a building has many headaches--such as new roofs, HVAC Units, lighting systems, etc., as they all eventually new replacement.Prior law added to these unwanted events, as you were stuck capitalizing and depreciating the new roof-and continued to to depreciate the old one as well.But...