real estate

What tax records can you throw away?

October 15 is the deadline for individual taxpayers who extended their 2019 tax returns. (The original April 15 filing deadline was extended this year to July 15 due to the COVID-19 pandemic.) If you’re finally done filing last year’s return, you might wonder: Which tax records can you toss once you’re done? Now is a […]

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Haven’t filed your 2019 business tax return yet? There may be ways to chip away at your bill

The extended federal income tax deadline is coming up fast. As you know, the IRS postponed until July 15 the payment and filing deadlines that otherwise would have fallen on or after April 1, 2020, and before July 15. Retroactive COVID-19 business relief. The Coronavirus Aid, Relief and Economic Security (CARES) Act, which passed earlier

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Factor in state and local taxes when deciding where to live in retirement

Many Americans relocate to another state when they retire. If you’re thinking about such a move, state and local taxes should factor into your decision. Income, property and sales tax Choosing a state that has no personal income tax may appear to be the best option. But that might not be the case once you

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Be aware of the tax consequences before selling your home

In many parts of the country, summer is peak season for selling a home. If you’re planning to put your home on the market soon, you’re probably thinking about things like how quickly it will sell and how much you’ll get for it. But don’t neglect to consider the tax consequences. Home sale gain exclusion

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Part 3 of Life, Death, and Taxes – Investing in Real Estate

Guest blogger Jacob Davis ends his Life, Death, and Taxes series with thoughts on Investing in Real Estate. Please contact our office with tax questions related to real estate investing. Thank you, Jacob, for providing this series. This article is not about how to invest in real estate or the ways to go about it–it’s

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Part 1: Life, Death, and Taxes — Welcome To Being An Adult, First Time Home Buyers

As many of my readers know, my father is a CPA (Certified Public Accountant) who is the founder and owner of the Kelly T. Davis, CPA, PA firm in Overland Park, Kansas. He has 35+ years of dealing with people and their taxes and knows just about everything your little heart could ever desire about

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