IT’S INCOME TAX SEASON AGAIN!!!

IT’S INCOME TAX SEASON AGAIN!!!

NOTICE TO ALL CERTIFIED PUBLIC ACCOUNTANTS AND THEIR CLIENTS

IF YOUR CLIENTS OWN ANY REAL ESTATE, YOU SHOULD READ THIS

YOU MAY BE MISSING SOME MAJOR DEDUCTIONS THAT COULD SAVE YOUR CLIENTS LOTS OF MONEY

AND THIS IS NOT A SCAM!!!

My name is Paul Levine, and I have been a practicing Certified Public Accountant in California for more than 50 years. How many of you have over 50 years of experience as a CPA? How many of you negotiated the sale of one of your clients to E I DuPont? How many of you have done litigation support and been an expert witness? How many of you have been University Professors for 6 ? years? I have done all those things!!! I am now a Commercial Realtor in California and a Real Estate Income Tax Consultant in the other 49 states. The difference is that in California, when I help my clients buy or sell real estate, I make a commission from my broker, and in the other states, I earn a consulting fee because I am only a licensed realtor in California.

I am writing this to you to tell you that there are so many ways to save your clients a lot of money in income taxes when they buy or sell commercial real estate. I am not going to go into all the ways now because I only make money when I help you use these tools that so many of you have never heard of or just skimmed over in your Continuing Professional Education classes. But I can tell you that I didn’t hear about these techniques until a few years ago because I would have just a few clients who had a single-family residence or two or three that they would rent out and I would break out the land from the building, and I would not depreciate the land, of course, but I would depreciate the building over 27.5 years using the straight-line method, as the Internal Revenue Code requires. And then I would, of course, deduct the expenses like advertising, cleaning, utilities, and of course, Real Estate Taxes and Mortgage Interest and Depreciation!

If you did or do what I did, and if your client had more than a few properties or has an apartment building or other form of commercial real estate, you are cheating your client, and you are passing on an opportunity to make substantially more in fees. The new thing today is self-storage facilities, and the rules for nonresidential real estate are different. You could make a mistake and cause an audit for your clients, and that will probably lose that client for you.

I write articles on Facebook and LinkedIn every workday, and I talk about these things, and that’s why people call me from all over the country. I write articles about these things, and people who own real estate clients, call me and ask me why their CPA isn’t doing these things. They tell me that they told their CPA about these things, and their CPA doesn’t understand that or doesn’t even know what that is. That has happened too many times. I have found out that so many CPAs do not know about these things that it is appalling to the profession. And one of the biggest advantages is being phased out starting on January 1, 2023!!! So, your clients lose 20% of the benefit. But it’s a wonderful benefit even at 80%!!!

If you want to know what I am talking about and if you want to save your clients a lot of money, and I really mean a lot, send a note to me on Facebook or LinkedIn and give me your contact information, and I promise that I will get back to you in a timely manner.?