by ABIP | Feb 13, 2014 | Taxes
One of the benefits of owning rental properties is the ability to take a depreciation expense deduction on your income tax return. But what is depreciation? And how is it calculated? And what will my benefit be? Depreciation is used to recover the cost of your rental...
by ABIP | Jan 17, 2014 | Taxes
So, you just received that great big refund check from the IRS. What should you do with the money? Well, the first thing to think about is that it is really a refund of YOUR money – you did not just get a windfall from the Government. Once you deposit that money into...
by ABIP | Jan 6, 2014 | Taxes
2013 is over and we are off into the New Year. For most, this marks the end of quite a few beneficial tax savings opportunities. But for a few lucky people, a handful of deadlines have been extended into 2014. Below are the dates in which tax extensions have been...
by ABIP | Nov 1, 2013 | Taxes
Year-end tax planning is especially important this year because of the many changes in the tax law and the tax breaks that will not be around next year unless Congress acts to extend them, which, at the present time, looks doubtful. Some of the tax breaks that may not...
