Chicago Real Estate Investing Blog

By Mark Ainley

How Cost Segregation Affects Recapture

While there is a relationship between cost segregation and recapture, the cause and effect relationship should not cause concern for many. Be wary, however, if you are not planning on holding your property for at least three to five years as cost segregation may not be the best s...

By Mark Ainley

What is Cost Segregation

Cost segregation is a tool for tax planning that is commonly used by commercial property owners. Using cost segregation allows an individual to view how quickly a property depreciates, therefore allowing owners to reduce the amount of taxes owed. In order for taxes to be reduced,...

By Mark Ainley

How to Identify a quality cost segregation study

How to Identify a quality cost segregation study in ChicagoLooking for cost segregation studies can be quite daunting. A search will result in many options some of which include computer models, alternatives, and workarounds accompanied by risks. You assume a cost segregation stu...

By Mark Ainley

How to Be An Ideal Client For Your CPA

In a recent article, I discussed all the ways your CPA can add value to you. Now, let’s turn the tables around back on you. People like to do business with people they know, like, and trust. Here are four tips for how you can be an ideal client for your CPA.Be OrganizedBein...

By Mark Ainley

The Ways Accountants Provide Value

In this article, I intend to detail some of the ways a great CPA (Certified Public Accountant)/EA (Enrolled Agent) can provide value for tax preparation and the tax planning services. Tax preparation is ensuring you and your rental businesses are complying with the required...

By Mark Ainley

The Inside Scoop on Multi-Member LLCs For Your Taxes

LLCs are frequently talked about within real estate circles. Most people are aware of the asset protection benefits that LLCs provide. However, the important tax implications are not as often highlighted. In this article, I will be discussing key terms, what you need to know abou...

By Mark Ainley

The Closing Statement: A Treasure Trove of Important Information

When you close on a property, at the closing you are going to receive the Closing Disclosure. This will show you, amongst other things, your principal and interest, mortgage insurance, escrow amounts, and cash to close. However, in terms of accounting, there is so much more infor...

By Mark Ainley

Best Practices For Preparing Rental Property Financials For Your Taxes

Following up on the last article I wrote about bookkeeping and the importance of it, it is now time to prepare this information for your tax return. During the year, you will have had many transactions that you need to appropriately classify for your expenses. Whether you’r...

By Mark Ainley

5 Best Practices for Keeping Accurate Records

This is one area that real estate investors often bemoan and dread before tax time. However, it does not have to be that way. There are simple, practical solutions that you can make to keep better records. In this article, I’ll go through why keeping detailed records are im...

By Mark Ainley

The Best Retirement Account For The Self Employed

While it is increasingly more popular to become an entrepreneur, there also needs to be some consideration for setting yourself up for future growth. In traditional W-2 jobs, there are 401(k)’s that function as excellent retirement vehicles with some restrictions. When you&...

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