2018 Year-End Tax Planning & Tax Update Conference The year-end can be an intimidating time with the holidays, year-end tax planning, new year goal setting, etc. LSL wants to ease the stress by informing and preparing you with the information you need to succeed. Whether you are an individual invested Read more…
Renting out empty rooms or your entire home on Airbnb can seem like an easy way to make money, especially if you have open space in your home. Renting homes from individuals has become a popular choice for vacationers compared to staying at hotels because it provides a home-like comfort Read more…
On December 22, 2017, the New Tax Reform, also known as the Tax Cuts and Jobs Act (P.L. 115-97) was signed into law, and we at LSL are here to help. You may be wondering, “we work for a municipality and don’t pay taxes, how can this affect us?” With Read more…
One of the biggest benefits of moving your books to the cloud is the ability to utilize bank feeds to speed up your accounting and monthly closing processes. What are bank feeds? Bank Feeds are downloaded, cleared transactions from your bank or credit card company that is imported into your Read more…
On December 22, 2017, the Tax Cuts and Jobs Act Update (P.L. 115-97) was signed into law. This will mark a fundamental change in the way you and your businesses calculate your federal income tax bill, and the amount of federal tax you will pay. Here are a few changes Read more…
On December 22, 2017, the Tax Cuts and Jobs Act (TCJA) was signed into law. This will mark a fundamental change in the way businesses will calculate taxable income, and subsequently affect the amount of federal tax you will pay. Here are a few changes effective in 2018 that will Read more…
Tax Reform is upon us and we at LSL are here to help. Classic tax planning typically involves acceleration of tax deductions and deferral of income. However, with tax reform on the loom, tax planning will look different than before as there are many deductions that will be limited or Read more…
Buying a home for the first time can be a very overwhelming process. You finally close escrow and you think, wow we are finally done. There are no more papers to sign, no more document requests from your loan officer, and no more open houses – but now what? You Read more…
How will tax reform change your tax bill? Donald Trump and the Republican-led Congress have been touting tax reform for the past two years. They have said that our federal tax system is too complicated, taxes are too high, and that we need to reduce the tax burden for all Read more…
Rental’s Taxable Entity Renting out a second home on self-rental sites such as Airbnb can be very lucrative in high traffic vacation areas. I recently stayed at an Airbnb home in Palm Springs, California. As a guest it was a very enjoyable experience that I would highly recommend but as Read more…