Alba CPA Blog - Unique Tax Strategies from a NJ CPA point of view
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Alba CPA Blog

Income Tax, Tax Services / 15.10.2014

I started my career in real estate like most do, reading books. I read everything from residential to commercial, books for real estate agents and for regular investors, learning a lot in the process. It wasn’t until I handled my first real commercial deal that I put that knowledge to the test. I was in for a shock. There isn’t a better teacher than experience. With that in mind, I wanted to share my inside experience with the readers, and pass along some valuable lessons I learned along the way. Pebbles: Understand your local real estate market and explore the fundamentals of commercial real estate investing. I can say this was the easiest step in my journey. I spent countless hours perusing MLS and driving around the neighborhood in search of properties and evaluating the area.
Income Tax, Tax Services / 07.05.2014

If you make under $200,000 a year, your chances of getting audited by the IRS are just above 1%.  Some people like those odds and take a chance by screwing around on their annual tax returns.  Does this mean you can get away with cheating on your taxes? Absolutely not.  The IRS uses sophisticated computer algorithms to decide on which returns to audit.  If your return looks strange, your chances of being audited go way up.
Income Tax / 07.05.2014

You answer your phone and the person on the other line introduces themselves as an IRS official.  That's your first clue to curse them out and hang up the phone.  Most people fear the IRS and these scams have a very "real" feel to them. The caller verifies some personal information and immediately people are hooked in this tax scam spiral.