Tax law real estate Not only is the staff of EBS Consulting taxation experts, but they are real estate investors as well. Carey Lampel personally has owned commercial and residential properties, mobile home parks and apartment buildings. This type of personal investment gives them insight into the tax loopholes available to clients who can claim real estate professional status on their tax returns. EBS has also represented clients in audits where they had taken real estate professional statu
Real Estate CPA The main distinctions among a CPA, an accountant and an attorney are the educational background and the level of privilege. Accountants do not require a specific educational track, as opposed to a CPA or an attorney. They may specialize in a certain field, such as bookkeeping or auditing, or study a broad range of accounting practices in order to help their clients in various financial matters. Accountants who maintain financial records for a company may not perform the internal
How can you make yourself less vulnerable to being audited? By Carey Lampel, LLM EBS Consulting, Inc It’s always a good idea to work closely with a CPA, tax attorney, financial planner, or all three, to make sure you’re taking every allowed deduction and avoiding potential audit risk. Here are some suggestions from CPAs and tax gurus who work with small businesses and other financial advisors. 1. You need your tax team to make sure you avoid an audit or, when an audit appointment is
Simple ways to cut your tax bill without breaking the law By Carey Lampel, LLM EBS Consulting, Inc Whether your business be large or small, you know you’re going to have to pay several different taxes: federal, state and local. But it might surprise you to know that the amount of tax you pay has to do with several factors other than the amount of profit you make in a year. For example, different taxes apply to a greater or lesser extent according to the industry you’re in and the type
The core of our business is driving down tax liabilities and educating our clients on the various methods. The IRS tax code is over 44,000 pages long. Why not have Carey Lampel, an attorney with a Masters Degree in Taxation wade through the code and utilize areas of the code that benefit your situation? Whether you are an entrepreneur with a business or a high income wage earner, you really need to sit down with Carey and have her go over your current numbers. Our average new client
Fact Sheet: Tax Breaks for Small Businesses Article from: US Small Business Administration America’s entrepreneurs and small business owners continue to grow their businesses and create jobs due to unprecedented tax cuts that have been signed into law over the past two years. This includes billions of dollars in tax relief from laws such as the Recovery Act, the Small Business Jobs Act, the HIRE Act, the Affordable Care Act, and the Tax Relief and Job Creation Act. Zero Capital Gains
Small Business Expenses and Tax Deductions The following article discusses small business expenses in addition to the two tax deductions, business expense deductions and capital expense deductions. Guidance for the Self-Employed and Sole Proprietors There are two basic tax concepts new business owners need to add to their vocabulary: business expenses and capital expenses. Business expenses Business expenses are the cost of conducting a trade or business. These expenses ar
Tax attorneys specialize in researching tax law and understanding taxation. They are able to assess whether the client is taking full advantage of all possible deductions. Their understanding of tax codes and regulations could potentially save the client thousands of dollars in deductions that may otherwise remain unclaimed. Also, they are professionally trained researchers. When opting to use tax software or file on his or her own, a person may face mistakes that could lead to an audit. This