Cash vs Accrual Accounting: What’s Best for Your Business?
Why This Choice Matters From Day One Choosing between cash and accrual isn’t just an accounting technicality,it affects taxes, how lenders see you, whether your forecasts are real, and how confident you feel making decisions. Pick well, and your books become a strategic dashboard. Pick poorly, and you’ll constantly wonder why profits and your bank...
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What Is the Infinite Banking Concept ?
The Infinite Banking Concept (IBC) is a cash-flow strategy that uses a specially designed, high cash value whole life insurance policy as a personal financing system. Instead of letting banks control the terms when you borrow for cars, equipment, real estate, or business growth, you build liquidity inside your policy, then use policy loans to...
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Bookkeeping for Real Estate Investors: Tracking Income, Expenses, and Depreciation
Real estate investing can be incredibly rewarding—but only if your books are in order. Whether you own a single rental or a multi-state portfolio, clean bookkeeping is the difference between “I think we’re profitable” and “I know our net cash flow, tax exposure, and next move.” This guide shows you—step-by-step—how to track rental income, categorize...
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Choosing Between the Standard Deduction and Itemizing
Why This Choice Matters When you file your federal tax return, one fork in the road can change your bill by hundreds—even thousands—of dollars: do you take the standard deduction or itemize? Both paths reduce your taxable income. The goal isn’t to be fancy; it’s to be factual about which produces the lower tax for...
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Navigating the New Child Tax Credit Rules
Why this matters now The Child Tax Credit (CTC) just changed in meaningful ways for the 2025 tax year. Getting these details right can put real money back in your pocket—and missteps can leave it on the table. The latest federal law (often called the One, Big, Beautiful Bill Act (OBBBA)) bumped the credit and...
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Maximizing Retirement Contributions Under the New Limits: A Comprehensive Guide for Contractors, Real Estate Investors, and Small Business Owners
Retirement planning has taken on new dimensions with the passage of recent legislation, often referred to as the Big Beautiful Bill. This bill has substantially increased retirement contribution limits, presenting fresh opportunities for contractors, real estate investors, and small business owners to reduce taxable income and build long-term wealth. In this detailed guide, we outline...
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Tax Planning Strategies for Real Estate Investors: Reduce Liability, Increase ROI
Real estate investing can be one of the most tax-advantaged wealth-building strategies available — if you know how to leverage the tax code in your favor. The right planning can reduce your tax liability, increase your after-tax cash flow, and help you reinvest more profits back into your portfolio. In this comprehensive guide, we’ll break...
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How Contractors Can Legally Maximize Deductions on Tools, Vehicles, and Supplies
As a contractor, keeping more of every dollar hinges on using the tax code the way it was designed—accurately, aggressively, and with airtight records. At RJL Consulting NY LLC, we help builders, electricians, plumbers, HVAC pros, remodelers, and specialty trades turn everyday spending—tools, trucks, trailers, and consumables—into compliant tax deductions that protect margins and fuel...
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How the New Tax Law Impacts Small Business Deductions
The latest federal tax reform, often dubbed the “Big Beautiful Bill,” has reshaped how small businesses handle deductions. While it aims to simplify the tax system and stimulate growth, the fine print matters,especially for small business owners. If you run a service firm, a contracting business, or even a small retail shop, the new rules...
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The Pros and Cons of the Infinite Banking Concept
Over the course of the years, people have been using the Infinite Banking Concept to create better financial circumstances for themselves without traditional banks or other financial institutions. The Infinite Banking Concept is a process through which an individual can perform the banking function at the you and me level. By utilizing specially designed dividend-paying...
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