Rashida Turra

October 17, 2025

The Hidden Dangers of Private Lending: Why Reading Your Loan Terms Matters

Private lending offers entrepreneurs fast, flexible access to capital, making it an increasingly popular alternative to traditional banks. However, this speed often comes with hidden dangers. The less-regulated nature of private loan contracts means they frequently contain complex or unfavorable terms buried in the fine print. Clauses like Prepayment Penalties (which prevent early repayment) or Interest-Only Payment Periods can cost borrowers tens of thousands in unexpected fees and interest. Don't risk your business on verbal promises or skimmed documents. To protect yourself, always read every word, seek professional advice before signing, and negotiate unfair conditions. Knowledge is your best defense against costly private lending pitfalls.
October 15, 2025

Balancing Retirement Savings and Business Investment: A Comprehensive Guide for Business Owners

Balancing retirement savings and business reinvestment is one of the toughest financial decisions business owners face. How much should you set aside for retirement versus putting back into your company’s growth? This article explores key strategies for retirement planning for entrepreneurs, tax-advantaged savings options, diversification tips, and real-life insights to help you make smarter, long-term financial choices. Learn how to align your age, goals, and business potential to secure both your future and your company’s success.
October 14, 2025

Understanding the Power of a 1031 Exchange for Real Estate Investors

The 1031 Exchange, also known as a "like-kind exchange," is one of the most powerful tax deferral tools for U.S. real estate investors. It allows investors to sell an investment property and reinvest the proceeds into a similar "like-kind" property without immediately paying capital gains tax. This effectively defers the tax liability, keeping more capital invested to accelerate portfolio growth and wealth building. To successfully execute a 1031 Exchange, strict IRS rules must be followed, including the use of a Qualified Intermediary and adherence to the 45-day property identification and 180-day closing deadlines. Though complex, utilizing a 1031 exchange can be a game changer for maximizing returns and scaling a real estate empire.
October 10, 2025

Transfer Pricing Compliance: What Every Multinational Company Owner Must Know

Operating across borders brings immense opportunities—but also complex tax challenges. One of the most crucial areas for any multinational business is transfer pricing—the pricing of goods, services, or intangibles exchanged between related entities. Far from being arbitrary, these prices must follow the arm’s length principle, ensuring they reflect fair market value to prevent profit shifting and double taxation. Noncompliance can lead to severe penalties, audits, and reputational damage. Understanding key regulations, documentation requirements, and OECD guidelines is essential for staying compliant. This article breaks down the fundamentals of transfer pricing, its risks, and how to safeguard your multinational operations through robust compliance practices.
October 8, 2025

Acquiring Foreign Real Estate: Why U.S. Owners Need Specialized Tax Guidance

Owning property abroad is exciting, but for U.S. citizens, it's a major tax and compliance hurdle. The IRS requires detailed reporting of foreign rental income (Schedule E), and transactions may trigger FBAR (FinCEN 114) and FATCA (Form 8938) filings with steep penalties for non-compliance. Capital gains are taxable, and deductions must be properly managed using forms like the Foreign Tax Credit (Form 1116) to avoid double taxation. The key mistake is relying on domestic accountants; international real estate requires expertise in both U.S. cross-border regulations and local tax laws (like Spain's GILT tax). Working with a specialized CPA before purchasing can save significant time, money, and legal stress by ensuring accurate, timely filings and simplifying multi-layered compliance.
October 6, 2025
International Compliance

Supporting CPAs with International Tax Compliance: Why Expert Guidance Matters

International tax compliance can feel like a maze — especially for CPAs serving clients with overseas businesses or investments. Recently, I helped a fellow CPA navigate complex cross-border reporting for their client, and that collaboration inspired me to formally offer dedicated international compliance support for accountants and their clients.
October 1, 2025

The Hidden Dangers of Loan Agreements Every Business Owner Must Know

Loan agreements can come with hidden terms and costly surprises that every business owner should understand before signing. From prepayment penalties and “late” fees to automatic withdrawals and obscure clauses, the fine print can easily lead to financial headaches—even after the loan appears paid off. Real-world stories reveal why careful contract review is essential for protecting your bottom line and avoiding unpleasant disputes. Read on to learn which loan agreement clauses to watch for, and how proactive attention to your business’s loan paperwork can help you avoid expensive mistakes.
September 26, 2025

Qualified Business Income (QBI) Deduction: Don’t Miss Out on This Powerful Tax Savings Opportunity

Discover why mixing personal and business finances can jeopardize your small business. Learn expert CPA tips on keeping your financial records separate to protect liability, maximize tax deductions, and build strong business credit. Essential advice for contractors, real estate investors, and local business owners.
September 25, 2025
Quarterly Finance Review

Why Every Business Owner Should Review Their Finances Quarterly

Discover why mixing personal and business finances can jeopardize your small business. Learn expert CPA tips on keeping your financial records separate to protect liability, maximize tax deductions, and build strong business credit. Essential advice for contractors, real estate investors, and local business owners.
September 22, 2025

Moved Abroad but Still Own U.S. Property (or Business)? What You Need to Know to Stay Compliant and Save on Taxes

Discover why mixing personal and business finances can jeopardize your small business. Learn expert CPA tips on keeping your financial records separate to protect liability, maximize tax deductions, and build strong business credit. Essential advice for contractors, real estate investors, and local business owners.
September 17, 2025
Mixing Personal and Business Finances

The Costly Mistake Business Owners Make: Mixing Personal and Business Finances

Discover why mixing personal and business finances can jeopardize your small business. Learn expert CPA tips on keeping your financial records separate to protect liability, maximize tax deductions, and build strong business credit. Essential advice for contractors, real estate investors, and local business owners.
September 15, 2025

International Client: Don’t Let the IRS Catch You Off Guard

TAre you living outside the U.S. but have investment properties here? You might not be aware of a critical requirement: foreign reporting. My team and I […]
September 10, 2025

Don’t Wait for 2026: Why Now is the Perfect Time to Switch Your Accountant

Thinking about a new accountant? You might feel like it’s too late in the year to make a move, especially with 2026 just around the corner. […]
September 8, 2025

Monthly Retirement Contributions: A Smart Tax Strategy for U.S. Business Owners

Saving money is a goal for nearly every entrepreneur—but let’s face it, it often takes a backseat to daily operations, payroll, and growing the business. Yet, […]
September 2, 2025

Why Waiting Until November for Q4 Tax Planning Could Cost You: How to Prepare for 2025 (and Beyond) Now

September has crept up on us, and as we transition into the final quarter of the year, it’s the perfect time to reflect on your business’s […]
August 30, 2025

Understanding the One Big Beautiful Bill Act: What It Means for SALT Cap and Tax Planning in 2025

The recently passed One Big Beautiful Bill Act has introduced several significant tax changes impacting both business owners and individual taxpayers. One of the most talked-about […]
August 28, 2025

Maximize Your Tax Savings by Investing in Opportunity Zones: What Every Real Estate Investor Should Know

Did you recently purchase real estate in an economically distressed or low-income area? If so, you may qualify for significant tax benefits by investing in Opportunity […]
August 26, 2025

Real Estate and R&D: The Overlooked Tax Goldmine

When most people think of research and experimentation (R&E) or R&D tax deductions, they picture scientists in white coats, tech startups, or pharmaceutical giants. But in […]
August 26, 2025

How the Pass-Through Entity Tax (PTET) Can Save New York Partnerships & S-Corporations Thousands

What is the Pass-Through Entity Tax (PTET)? If you own a Partnership or S Corporation in New York, you may be leaving significant tax savings. One […]
August 26, 2025

Maximize Year-End Tax Savings with New York’s Pass-Through Entity Tax (PTET)

As the year comes to a close, New York business owners — especially S corporations and partnerships — have a powerful opportunity to reduce federal taxes […]
August 26, 2025

How Section 1202 QSBS Can Help You Pay Zero Federal Capital Gains Tax

If you own stock in a small business, there’s a little-known but incredibly powerful tax strategy that could save you hundreds of thousands—even millions—in federal taxes. […]
August 26, 2025

Bonus Depreciation for Real Estate Professionals: How to Maximize Your 2025–2029 Tax Savings

If you’re a real estate professional or investor, 2025 brings a major tax opportunity you don’t want to miss — 100% bonus depreciation is back. Thanks […]
August 26, 2025

Maximize Your Tax Savings in Manufacturing with Section 179 Expensing: What the One Big Beautiful Bill Act Means for 2025

If you operate in the manufacturing industry, understanding tax-saving opportunities is crucial to improving your bottom line. One powerful yet often overlooked tool is Section 179 […]
July 10, 2025

Navigating the Future: A Deep Dive into the New Tax Legislation and Your Financial Plan

The tax landscape has undergone a significant transformation with the recent passage of new legislation on July 4, 2025. This landmark bill, which saw the House […]
July 7, 2025

That Unsettling Envelope: Why You Can’t Afford to Ignore an IRS or NY State Notice

The mail arrives. Bills, junk mail, maybe a card. And then, there it is: an official-looking envelope from the IRS or New York State. Instantly, your […]
July 2, 2025

New York Business Owners: Demystifying the PTET and Your SALT Deduction

New York Business Owners: Demystifying the PTET and Your SALT Deduction As a New York business owner, you’re likely aware of the Pass-Through Entity Tax (PTET) […]
June 28, 2025

Boost Your Cash Flow: The Power of Early Payment Discounts

Hey fellow business owners! Let’s talk about a challenge that keeps many of us up at night: getting paid on time. While late fees have long […]
June 26, 2025

Don’t Start That Next Project Without This Crucial First Step

As a business owner in the USA, you’re likely no stranger to the exhilarating, sometimes chaotic, dance of juggling multiple projects. It’s the very heartbeat of […]
June 19, 2025

Is Your Business Growth Held Hostage by Daily Financial Tasks?

Are you a brilliant business owner constantly feeling bogged down by the relentless tide of invoicing, receipt management, and tax filing? You’re definitely not alone! We […]
June 9, 2025

Still Taking Photos of Documents with Your Phone? Here’s a Smarter Way to Scan and Upload Tax Documents

If you’re like many business owners and entrepreneurs, you might still be using your phone’s camera to snap pictures of important documents — tax forms, receipts, […]
October 17, 2025

The Hidden Dangers of Private Lending: Why Reading Your Loan Terms Matters

Private lending offers entrepreneurs fast, flexible access to capital, making it an increasingly popular alternative to traditional banks. However, this speed often comes with hidden dangers. The less-regulated nature of private loan contracts means they frequently contain complex or unfavorable terms buried in the fine print. Clauses like Prepayment Penalties (which prevent early repayment) or Interest-Only Payment Periods can cost borrowers tens of thousands in unexpected fees and interest. Don't risk your business on verbal promises or skimmed documents. To protect yourself, always read every word, seek professional advice before signing, and negotiate unfair conditions. Knowledge is your best defense against costly private lending pitfalls.
October 15, 2025

Balancing Retirement Savings and Business Investment: A Comprehensive Guide for Business Owners

Balancing retirement savings and business reinvestment is one of the toughest financial decisions business owners face. How much should you set aside for retirement versus putting back into your company’s growth? This article explores key strategies for retirement planning for entrepreneurs, tax-advantaged savings options, diversification tips, and real-life insights to help you make smarter, long-term financial choices. Learn how to align your age, goals, and business potential to secure both your future and your company’s success.
October 14, 2025

Understanding the Power of a 1031 Exchange for Real Estate Investors

The 1031 Exchange, also known as a "like-kind exchange," is one of the most powerful tax deferral tools for U.S. real estate investors. It allows investors to sell an investment property and reinvest the proceeds into a similar "like-kind" property without immediately paying capital gains tax. This effectively defers the tax liability, keeping more capital invested to accelerate portfolio growth and wealth building. To successfully execute a 1031 Exchange, strict IRS rules must be followed, including the use of a Qualified Intermediary and adherence to the 45-day property identification and 180-day closing deadlines. Though complex, utilizing a 1031 exchange can be a game changer for maximizing returns and scaling a real estate empire.
October 10, 2025

Transfer Pricing Compliance: What Every Multinational Company Owner Must Know

Operating across borders brings immense opportunities—but also complex tax challenges. One of the most crucial areas for any multinational business is transfer pricing—the pricing of goods, services, or intangibles exchanged between related entities. Far from being arbitrary, these prices must follow the arm’s length principle, ensuring they reflect fair market value to prevent profit shifting and double taxation. Noncompliance can lead to severe penalties, audits, and reputational damage. Understanding key regulations, documentation requirements, and OECD guidelines is essential for staying compliant. This article breaks down the fundamentals of transfer pricing, its risks, and how to safeguard your multinational operations through robust compliance practices.
October 8, 2025

Acquiring Foreign Real Estate: Why U.S. Owners Need Specialized Tax Guidance

Owning property abroad is exciting, but for U.S. citizens, it's a major tax and compliance hurdle. The IRS requires detailed reporting of foreign rental income (Schedule E), and transactions may trigger FBAR (FinCEN 114) and FATCA (Form 8938) filings with steep penalties for non-compliance. Capital gains are taxable, and deductions must be properly managed using forms like the Foreign Tax Credit (Form 1116) to avoid double taxation. The key mistake is relying on domestic accountants; international real estate requires expertise in both U.S. cross-border regulations and local tax laws (like Spain's GILT tax). Working with a specialized CPA before purchasing can save significant time, money, and legal stress by ensuring accurate, timely filings and simplifying multi-layered compliance.
October 6, 2025
International Compliance

Supporting CPAs with International Tax Compliance: Why Expert Guidance Matters

International tax compliance can feel like a maze — especially for CPAs serving clients with overseas businesses or investments. Recently, I helped a fellow CPA navigate complex cross-border reporting for their client, and that collaboration inspired me to formally offer dedicated international compliance support for accountants and their clients.
October 1, 2025

The Hidden Dangers of Loan Agreements Every Business Owner Must Know

Loan agreements can come with hidden terms and costly surprises that every business owner should understand before signing. From prepayment penalties and “late” fees to automatic withdrawals and obscure clauses, the fine print can easily lead to financial headaches—even after the loan appears paid off. Real-world stories reveal why careful contract review is essential for protecting your bottom line and avoiding unpleasant disputes. Read on to learn which loan agreement clauses to watch for, and how proactive attention to your business’s loan paperwork can help you avoid expensive mistakes.
September 26, 2025

Qualified Business Income (QBI) Deduction: Don’t Miss Out on This Powerful Tax Savings Opportunity

Discover why mixing personal and business finances can jeopardize your small business. Learn expert CPA tips on keeping your financial records separate to protect liability, maximize tax deductions, and build strong business credit. Essential advice for contractors, real estate investors, and local business owners.
September 25, 2025
Quarterly Finance Review

Why Every Business Owner Should Review Their Finances Quarterly

Discover why mixing personal and business finances can jeopardize your small business. Learn expert CPA tips on keeping your financial records separate to protect liability, maximize tax deductions, and build strong business credit. Essential advice for contractors, real estate investors, and local business owners.