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R.S.K. Tax & Consulting, LLC

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The Mid-March Tax Crossroads

The Mid-March Tax Crossroads Two Businesses. One Big Question. We’re officially halfway through March. If you’re a real estate investor, Q1 likely looked like closings, rehabs, or rent collections. If you’re a service-based business owner, it was client work, proposals, and getting paid. Different industries—but right now, both groups are asking the same question: “What do I need to do right now to avoid an April surprise?” Let’s break down what matters most this week. Real Estate Investors:...

The Mid March Tax Crossroads: Two Businesses, One Big Question We are officially halfway through March. For real estate investors, Q1 likely meant closings, rehabs, or rent collections. For service based business owners, Q1 meant client work, proposals, and hopefully getting paid. Both groups are asking the same question right now:What do I need to do today to avoid an April surprise? Here are the most common questions I am hearing this week and what you should be doing about them. Real...

March 15 Tax Deadline: What Business Owners Need to Know Tax season is here, and an important deadline is approaching quickly. While many people focus on the April 15 tax deadline, some business owners actually have an earlier filing date that often gets overlooked. March 15 is the deadline for certain business tax returns. If your business is structured as a Partnership or an S Corporation, your 2024 business tax return must be filed by March 15, 2025. Why is this deadline earlier?...

Medical & Dental Private Wealth Series Most specialists focus on production—more patients, more procedures, more growth. But here’s the uncomfortable truth:How you structure your practice often determines how much of that income you actually keep. Many high-earning dentists and physicians unknowingly fall into what I call the “Orthodontist Trap.”You build a highly specialized practice, but if your entity structure is not optimized, the IRS quietly becomes your largest partner. Let’s break...

Unlock Hidden Tax Savings in Your Real Estate Investments 💰 If you own rental properties, office buildings, or apartments, you could be leaving a massive tax deduction on the table — and most accountants aren’t pointing it out. It’s called a Cost Segregation Study, and it could turn your slow, 39-year depreciation into a powerful cash-saving strategy today. Here’s how it works: The Old Way: You buy a building for $1,000,000. Standard IRS rules spread depreciation over 39 years — that’s...

Don’t rush. Your K1s and retirement plans might be worth the wait. Why High Earners and Real Estate Investors Should Pause Before Filing You have a tidy desk. Your receipts are scanned. Your bookkeeper says you are ready to go. So why did I ask my team to hold your return? Because for High Net Worth individuals, especially those in real estate syndications or private medical practices, filing in February often feels productive but it can quietly cost you money. Here is what I hear every...

It’s Not Too Late Smart Last Minute Moves Before You File Your 2025 Taxes A Quick Action Guide for Real Estate Investors and Service Business Owners If you are a real estate investor, freelancer, consultant, or service based business owner, here is the good news: You still have time to reduce your 2025 tax bill. Several powerful tax strategies can be implemented right up until you file your return, and in some cases, until April 15, 2026. Below are a few high impact moves to review before you...

Fuel Your Success: Maximize Your Business Deductions Running a service-based business? Meals, mileage, and vehicle expenses aren’t just costs—they’re powerful tools to save money. Let’s make deductions simple and stress-free for consultants, tradespeople, cleaners, and all hands-on professionals. Meals: More Than Just Food Meals are often part of winning clients and building relationships. Here’s what’s deductible—and what isn’t. Deductible Meals Client Meetings Over Meals: 50%...

The S Corp Election Savior or Headache An Updated Look The S Corp election has long been one of the most talked about tax strategies for business owners. With the 20 percent QBI deduction officially preserved, it is time to revisit the big question. Is an S Corp still the smart move for your business or just extra hassle? Let’s break it down in plain English. What Is an S Corp Election Really Think of it as choosing how the IRS views your business income. Instead of your business paying taxes...

Action Required Jan 15 Tax Deadline and Your 2026 Cash Flow Plan Your Taxes Are Talking Now Is the Time to Listen Happy New Year.Last week was all about closing the books on 2025.This week is about protecting your cash flow and planning smarter for 2026. An important deadline is approaching and there is also a planning opportunity most business owners miss. January 15 is the due date for your fourth quarter 2025 estimated tax payment. Even more important, January is the best time to project...