Bill Zumwalt's (teamzumwalt) Blog

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Services for Real Estate Pros - William T. Zumwalt CPA, CTC "The Tax Coach for REALTORS"
RECENT BLOG POSTS
2013 has been a big year for taxes.  Earlier in the year, Congress passed legislation averting the so-called "fiscal cliff," and many of the "Obamacare" changes have taken effect, or are about to.  While few of us who watched the process would consider it Washington's finest hour, we now have ans...
11/21/2013
You may think I kidding but this is the most advanced designed destroyers to ever been built, The first –in-class Zumwalt is unlike any other superstructures war ships with their towering radar-and antenna-laden signatures. The Zumwalt will ride low in the water to minimize its radar signature, m...
11/20/2013
Back in 2010, President Obama signed the “Patient Protection and Affordable Care Act” and companion “Health Care and Education Reconciliation Act of 2010” Together, those two acts – better known by Republicans and Democrats alike as - “Obamacare” – represent the biggest change in how we finance h...
11/20/2013
One of the biggest tax deductions you have left before the end of the year is the purchase of a new or used vehicle. This is especially true if you are looking at the big SUV’s and pickup trucks. This year may be the last year that the 50% bonus depreciation is available for buying a new car or t...
11/20/2013
There are really two types of home entertainment. One is for a small number of guests, say 12 or less. The key here, as always, is to follow the “terms and conditions” the IRS has for entertainment. Those terms are to have a meeting place that is conducive to having a business meeting and your ho...
11/20/2013
The  extending of the extenders. Last year Congress extended certain tax breaks for one year and here we go again. Some of them are important for the real estate industry. Items such as the deduction of the mortgage insurance as qualified interest, state and local sales tax, expenses of teachers ...
11/20/2013
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It's safe to say that people don't like paying taxes. America was born out of a tax rebellion, and Americans have resisted every variety of tax ever since. Some of them even go as far as renouncing their American citizenship to avoid the tax man. Expatriation sounds like an awfully big step just ...
11/20/2013
In 2008 Mitch and Ann Romney bought a home in LaJolla California. The cost was a mere  $12,000,000.  Seems the Romney’s wanted a home where they could hear the ocean.  Well they also wanted to tear down the existing home and rebuild on the property a new 11,000 square foot house. If you stop to t...
10/30/2013
Please remember this year you can use the new IRS rule for the home office deduction.  This method allows you to deduct a flat rate of $5 per square foot up to 300 square feet or $1,500 for a home office.  The good and bad to this are as follows1) Gooda) You still can deduct all of your mortgage ...
10/30/2013
Apple and other big corporations like Google and Facebook have long used tax avoidance methods that have moved large amounts of money to foreign banks and companies. Some of the methods have colorful names such as the “Double Irish” and the “Dutch Sandwich”. Well this past week the Securities and...
10/29/2013
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