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CERTIFIED PUBLIC ACCOUNTANT WINDERMERE: RENTALS AND INVESTMENTS
Many homeowners near the Butler Chain of Lakes also own a rental, a small commercial property or a share of a family business. Those interests can create more paperwork than a single paycheck ever did.
What we can help you track
- Rent, repairs and other property expenses
- Income and expenses for each property or business
- Records you will want at tax time or when you sell
- Reports for lenders or business partners
Why a certified public accountant helps
Accounting services are about more than totals. A CPA can look at how your holdings fit together and point out questions to consider before tax season arrives. If you are thinking about adding a property or selling one, it can help to talk it over first.
Call for an appointment. Fajardo & Associates serves Windermere from our office at 7380 W. Sand Lake Road, Suite 500, Orlando. Call 407-720-7220 or send us a message to set a time.
Capital Gains
The rates for capital gains may undergo revisions in the future, but no conclusions have been made yet. It should be stated that short-term capital gains are subject to taxation at the regular income tax rates. According to Maye, individuals generally should maintain their investments for more than a year to avail of the more advantageous long-term capital gains rates. He expressed his view that the regulations for long-term capital gains will stay within the present thresholds of 0%, 15%, or 20% for most individuals.
Charitable Contributions
Many taxpayers nowadays opt to take the standard deduction, thereby previously itemized deductions, which consequently affects the tax implications of their charitable contributions. In 2021, individuals filing as singles are eligible to claim a deduction of $300, whereas those who are married and file jointly can claim up to $600. However, the extension of this provision for 2022 remains uncertain. Alternatively, individuals interested in contributing to charitable organizations can utilize their retirement account distributions. Specifically, according to Maye, individuals above 70.5 can donate up to $100,000 in qualified charitable contributions (QCDs) annually directly from their Individual Retirement Account (IRA) to a charitable organization.
