Bill Zumwalt's (teamzumwalt) Blog

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Services for Real Estate Pros - William T. Zumwalt CPA, CTC "The Tax Coach for REALTORS"

ARCHIVED BLOG POSTS

2013 

Just a friendly reminder for those who have to make quarterly tax payments. The June 17th 2013 deadline for estimated tax payments is approaching. Team Zumwalt provides taxpayers an easy way to pay their federal estimated tax payment electronically using their credit or debit card. Taxpayers can ...
05/30/2013
I was just reading an article by Jennifer Karmon where she had interviewed Arthur C Nelson, director of the Metropolitan Research Center at the University of Utah. Nelson states that with the influx of baby boomers that will be looking to sell their homes in the “great senior sell-off” this will ...
05/30/2013
For those of you who operate as “S” Corps you may have heard about this term called reasonable compensation. Since the net income of an S Corp is not subject to self-employment this is certainly an area for potential abuse. For an example, your corporation has a net income before your salary of $...
05/29/2013
Okay, so tax season is over, right? Taking it easy till next tax season, right? Couldn’t be farther from the truth. As real estate agents the end of school marks the time most people want to sell or buy a home and be moved in for the new school year. As an agent I see that most of you are off to ...
05/29/2013
The United States and France have been friends for centuries. The French navy provided much of the military might we needed to defeat the British in the Revolutionary War. The French Revolution inspired our own founders to the promise of republican government. And French territory, acquired in th...
05/28/2013
Well for one thing, they have the money as a group to hire great lobbyists. The best return on investment anyone can make is to have a good lobbyist. How many of you heard the term “carried interest” during the last campaign? Private equity fund managers are paid two ways. One is based on the amo...
05/28/2013
As I have been following the Senate hearing I have seen how Apple actually paid too much in taxes. How do you ask did they do that? As Tim Cook testified Apple does not hold money on a Caribbean Island or a bank account on the islands of Grand Cayman. In fact, Apple does not move any taxable reve...
05/28/2013
This Florida Indian Tribe has gaming operations in the West Miami-Dade area. Since the tribe is considered a sovereign nation this translates that the tribe itself is not subject to income tax. However, the distribution of profits to tribal members are taxable to the recipients and should have wi...
05/27/2013
As you should know, you are an employee of your S Corp. The company is a separate entity. Let’s look at this as if you were an outside salesperson for an office supply store. The company reimburses you for all your auto expenses. They can do this several different ways. One way would be to pay yo...
05/26/2013
Here’s what you need to know: 1) You must pay for care so that you or your spouse can work or actively look for work.2) You must have earned income. If your spouse works and you as a realtor have a loss from your business then you cannot claim the credit3) You can claim the credit for your depend...
05/26/2013
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Bill Zumwalt

Tax Coach, CPA
local_phone(918) 583-1040
smartphone(918) 808-7164
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