Tax Attorney Long Island

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1. 
   A. De Paz

   I have to admit I haven’t read this all yet. That’s why I can’t give it more than 4 stars so far. I have read enough to get an idea of what reciepts to save and, when discussing tax issues with fellow landlords, I’ve found quick answers to all our questions so far. And, I, who am somewhat tax illiterate, even understand the answers I’ve found! I have to read this book – I’ve purchased a lot of books on landlording and real estate investing and read most of them but still have no solid idea about how I’m going to deal with my taxes this year (first time rental house owner this year). I know this is a very necessary read for me but, who wants to read about TAXES?? – what a bore!! I am confident, however, due to what I’ve explored so far in this book, that this will prepare me well to get the full legal tax advantage from my landlording business.
   Rating: 4 / 5

   September 13, 2009 11:37 pm | #1
2. 
   Yelena D. Tsirulnik

   Many thanks to the seller – the book was in great condition and I received it promptly
   Rating: 5 / 5

   September 14, 2009 1:52 am | #2
3. 
   B. Anderson

   Helps explain what the CPA was jabbering on about and puts things into clear perspective. When it starts to get confusing, the book refers you to other more in-depth publications. Highly recommended.
   Rating: 4 / 5

   September 14, 2009 4:21 am | #3
4. 
   ayn rand wannabe

   after getting lead around by the nose by all-mighty cpa & other tax gurus i can’t say how helpful book has been….seems real estate biz returns need a specialist, using medical field as an analogy, not a do-all general practitioner…insightful info put fear of god (& irs auditor)in me how inaccurate previous returns have been, not only error prone but missing valid deductions as well….great presentation, not delivered as rocket science, pragmatic, relevant, not victoria secrets-sexy material but crammed with real world info to save big dollars legally, shame on me for what i have missing all these years…no longer intimated over forms & schedules, i finally get it….honestly believe book will save me thousands, 5 stars just ain’t enough
   Rating: 5 / 5

   September 14, 2009 5:49 am | #4
5. 
   Mariusz Skonieczny

   The topic of taxes may not be as popular as learning about the next hot investment strategy that can make you an instant millionaire, but whether you like it or not, this topic is important. Even if your accountant does all your taxes, it doesn’t hurt to understand it.

   I cannot tell you how much the knowledge of taxes saved me. I don’t have to pay an accountant. If you understand it, you don’t have to do it yourself – you can train your employees to do it. It still costs a lot less to have them do it than your accountant who will charge you over $100 per hour. But in addition to that, you will be able to save money on taxes. The author teaches you how to deduct as much as legally possibly from your rental income to show as little taxable income as possible. It is not uncommon for landlords to show negative taxable income (meaning you pay no taxes on it), and still have positive cash flow. The secret is depreciation, which is a noncash expense. I think that if you own real estate, you cannot afford not to be knowledgeable about this topic.

   - Mariusz Skonieczny, author of Why Are We So Clueless about the Stock Market? Learn how to invest your money, how to pick stocks, and how to make money in the stock market
   Rating: 5 / 5

   September 14, 2009 6:25 am | #5