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Nicholas Aiola, CPA - Depreciation Recapture: The Dark Side of Depreciation - Depreciation Recapture
So now that you know the ins and outs of depreciation and how great it can be for landlords, let’s take a closer look at the downside: depreciation recapture.   Disclaimer: For the purposes of this article, we are only going to discuss depreciation recapture in relation to residential real […]

Depreciation Recapture: The Dark Side of Depreciation


Nicholas Aiola, CPA - Why Depreciation Is a Landlord's Best Friend - House & Coins
Raise your hand if you’ve heard of depreciation before ‍✋   Now, raise your hand if you can define what depreciation (in relation to accounting) is…     Allow me to help – depreciation is the allocation of the cost of an asset over its useful life. It represents the […]

Why Depreciation Is a Landlord’s Best Friend


Nicholas Aiola, CPA - 2018 Tax Cheat Sheet - Happy New Year (2018)
  Thanks to the new tax law, 2018 brings more changes than just the typical adjustments for inflation. Let’s take a look…   Tax Rates Single: Taxable Income Tax Rate $0 to $9,525 10% $9,526 to $38,700 $952.50 plus 12% of the amount over $9,525 $38,701 to $82,500 $4,453.50 plus […]

2018 Tax Cheat Sheet







Nicholas Aiola, CPA - 4 Steps to Teach Your Kids About Taxes with the "Candy Tax" - Candy Tax
  Who doesn’t love trick-or-treating? In my heyday, I would head out into the Halloween night dressed as a ninja, a power ranger, or whatever I thought would help me rake in as much candy as possible. My brother and I used pillowcases––not those amateur plastic pumpkins or little bags––to […]

4 Steps to Teach Your Kids About Taxes with the ...




Nicholas Aiola, CPA - A Millennial's Guide to Trump's Tax Proposal - Trump/Uncle Sam
Imagine proposing to your significant other, only to be swiftly and publicly shot down. How confident would you be to propose again?   You have to give Trump credit; after proposing to repeal Obamacare and being rejected by the Senate, he got right back up, dusted himself off, and proposed […]

A Millennial’s Guide to Trump’s Tax Proposal






Nicholas Aiola, CPA - Why Big Tax Refunds Are Bad News - Bad News
  Who doesn’t love getting a nice, big tax refund? Me, that’s for sure. It may sound unconventional, but here are a few reasons why:   You’re letting the government hold your money all year Simply put, you get a refund when you pay in more taxes (i.e., through withholding […]

Why Big Tax Refunds Are Bad News


Nicholas Aiola, CPA - How Your Pet Can Help Lower Your Tax Bill - Dog With Money
Although you may consider your pet as your child, the IRS doesn’t necessarily agree. You can’t claim your pet as a dependent, but there are some deductions you may be entitled to take. Let’s take a look…   Medical Deduction If you itemize and your medical costs exceed 10% of […]

How Your Pet Can Help Lower Your Tax Bill


Nicholas Aiola, CPA - 10 Red Flags That May Trigger an IRS Audit - Red Flags
“I love being audited!” – No one ever   While it’s impossible to completely eliminate the possibility of being audited, you can at least be aware of what could make the IRS want to take a closer look at your return.     🚩 1. Leaving out an item Not […]

10 Red Flags That May Trigger an IRS Audit



Nicholas Aiola, CPA - The Floor Is Tax Planning - Jump
  Full disclosure: Believe it or not, I understand that tax planning is not at the top of everyone’s priority list, especially during the summer. With that said, it could be extremely beneficial to spend a little time analyzing your financial situation on a regular basis throughout the year; nothing […]

The Floor Is Tax Planning



Nicholas Aiola, CPA - How The IRS Treats Profits Made From Flipping Houses - Flipped House
The real estate market has certainly bounced back from the crash in 2008. Prices have surged over the past few years and continue to steadily climb, causing many experts to anticipate a recession in the real estate market in the near future. For real estate investors, this marks a great […]

How The IRS Treats Profits Made From Flipping Houses


Nicholas Aiola, CPA - The 5 Factors That Make Up Your Credit Score - Credit Score
The almighty FICO credit score – used in almost every big boy & girl purchasing decision. It’s repeatedly drilled into our heads that we need good credit to buy a home or car, apply for loans or credit cards, etc. This is true, so it’s important to know what the […]

The 5 Factors That Make Up Your Credit Score