Creative Bookkeeping, Business and REI with MTR Groups

10/02/2024

Happy to announce that I will be speaking on Jon Chan's podcast this Thursday regarding tax strategies and overall finance basics to wrap up strong the 2024. See you all there.

09/16/2024

To all Holding company structure holders, please stop doing everything as WY holding and local state single member LLC. not always good and in CA, it makes things super confusing to file taxes.

05/30/2024

Understand your tax return: A lot of the time I hear people say "My accountant did this"... Remember, YOU are responsible for YOUR TAXES. So make sure to understand what your accountant did. It is wayyy cheaper to even pay to understand what your tax returns mean than to be clueless about them. You don't need to know every nuance, but understand enough to have a good grip on your money. I had 4 people that I had conversation with them having no clue on what their previous year situation is. I am not saying you need to be an expert, but make sure you understand enough so you don't overpay. I had to ask for multiple documents to verify single scenario. Also, Please keep your previous year returns handy. They provide useful insights. Also, any accountant can make mistakes. but if you have clean records, it's easier for everyone to correct them so you keep more. I wish taxes were taught on school, but unfortunately, someone had to make sure that the nation that revolted for 2% taxes, don't do anything close to that even if they taxed up to 75%.

Let's stay educated. Let's make more, keep more and give more... Peace.

05/09/2024

The scene when it drops to ZERO tax, one of the most soothing sights. Second REP with ABSOLUTELY ZERO taxes for the year.

04/23/2024

🎤 I was just interviewed about my real estate investing journey! 🎉🥳

I had a lot of fun sharing some tips and ideas in regards to real estate investing and tax strategies on the Property Profits Podcast 🎧

My episode should be coming out in the next few weeks, and I’ll give you a heads-up when it drops 💥👍.

BTW, if you’re a real estate investor interested in getting on podcasts, they’re looking for guests. It’s a top 2.5% show, it's great exposure, and they make it fun and easy (especially for podcast 'newbies'). Check it out at DaveInterviewsYou.com

04/18/2024

JJ Azizian Is a master of growing your social media. Make sure to check out the networking event if you want to grow your social presence. This is the demo of what is coming. See you all

Promo for Tousif Rahman's Effective Tax Planning presentation

04/15/2024

if you still havent filed an extension yet, feel free to go here and file your extension for free by end of today with IRS: https://www.irs.gov/filing/free-file-everyone-can-file-an-extension-for-free
Let's not add another penalty for late filing.

File an extension for free with your choice of Free File tax software.

03/11/2024

03/07/2024

2 minutes tax tip
Move out of high tax states like CA, NY, NJ. Moving to a lower or No tax state can save you anywhere from 1% to 13% additional on part or all of your income. You might need to pay taxes on the state you made money in, but if you're in the borders, choose to live on the lower tax side. Be creative.
I know I shared wins from clients previously, but today was difficult to swallow the fact that my client had to pay few thousand dollars in taxes after the business income distribution, while we were expecting some small refund. Just California being California, hit us hard. However, I have tried to pick up every legal deductions possible to reduce the burden. Stay within the legal boundaries and make sure to plan the year ahead instead of waiting for the taxes.

03/01/2024

Alhamduliallh. Officially an EA. Able to represent at any capacity before IRS. Let's Make More, Keep More, Give More.

02/29/2024

When the client was expecting to pay more to taxes and he gets a decent refund because the tax pro asked for those deductions that the client didnt even think of deducting... That expression is priceless...

02/26/2024

2 minutes tax tips
Unrecoverable Funds
If you lost money on casualty, theft, ponzi scheme, you might be better off itemizing your expenses. You take the losses on form 4684 for personal side. This is not for capital investment. Capital investment is capped at 3k per year writeoff in many cases, theft losses may not be.
However, for people WHO WERE PML OR HAVE LENT FOR BUSINESS VENTURES AND LOST MONEY, depending on structure, might be theft loss, write off, or Bad debt depending on structure and type of transaction. For Bad debt, need to have REASONABLE EFFORT TO RECOUP AND REASONABLE BELIEF OF NOT GETTING IT BACK. However, if you get the money from insurance and any other media, you WILL HAVE TO SHOW IT. Tax treatment may vary depending on the type and amount. Hope this helps.

Let's Make More, Keep More, Give More. Peace...