INVESTOR FRIENDLY CPA

Still on extension? Don’t wait until October 15 to start thinking about your tax strategy.

Join Ashish Acharya, MAcc, CPA, CFP®, PFS, MBA for our upcoming live webinar, “Still on Extension? Things to Review Before You File on October 15,” where we’ll cover key year-end tax planning strategies to review before filing your extended return.

📅 September 23, 2026
⏰ 6:00 PM EST
💻 Live on Zoom

We’ll discuss important planning opportunities around retirement contributions, real estate tax strategies, business structure, capital gains, gifting strategies, healthcare expenses, and other year-end tax moves that may deserve attention before the year closes.

If you’re a real estate investor, business owner, or high-income taxpayer still on extension, this session can help you identify what to review now, before your planning window gets smaller.

Follow the link to reserve your spot and start your year-end tax planning early. https://us06web.zoom.us/webinar/register/WN_FZprzI-zRvWKuyt8jmMNQA #/registration

September 15 is one of the most overlooked tax deadlines in the business calendar, and missing it can cost you more than just a fine.

If your S-Corp, Partnership, or Multi-Member LLC filed for an extension back in March, that extension only gave you more time to file your return. It did not extend your time to pay. Interest on any unpaid balance has been running since April, and the IRS penalty clock does not stop for busy schedules.

Here is what is at stake if you miss September 15:

A failure-to-file penalty. A failure-to-pay penalty. Interest compounding every single day until the balance is resolved.

The businesses that avoid these penalties are not the ones that got lucky. They are the ones that planned ahead.

If your extended business return is not ready, now is the time to act, not September 14.

Our team at Investor Friendly CPA® works with business owners and real estate investors to make sure deadlines like this never become emergencies. Follow the link to Book a free consultation with us. https://scheduler.zoom.us/investor-friendly-cpa/client-intake-investor-friendly-cpa-llc

Kinda chic to legally keep more of what you earn.

Tax planning isn't just for the ultra-wealthy, it's how smart real estate investors and business owners lower their tax bill every single year (legally). Most people overpay simply because no one built them a strategy.

The difference between a tax preparer and a tax strategist? One files your return. The other helps you keep more of your money before April ever arrives.

Book a free consultation call with us today!
https://scheduler.zoom.us/investor-friendly-cpa/client-intake-investor-friendly-cpa-llc

Selling an investment property can create a major tax bill. But with the right real estate tax strategy, you may be able to defer capital gains taxes and unlock additional depreciation benefits.

A properly structured 1031 Exchange can help preserve your equity by deferring capital gains, while a cost segregation study can accelerate depreciation on qualifying replacement properties. For some real estate investors, combining both strategies can improve cash flow and keep more capital working toward the next investment.

Timing and documentation matter. Missing the 45-day identification or 180-day closing deadlines for a 1031 Exchange can jeopardize the tax deferral.

Want to know which strategy could work for your portfolio? Follow the link to schedule a free consultation with a CPA at INVESTOR FRIENDLY CPA®. https://scheduler.zoom.us/investor-friendly-cpa/client-intake-investor-friendly-cpa-llc

She received $287,000 in wedding gifts. The IRS wanted $71,777 of it, and a federal court said the penalty could stand. ⚖️

The surprising part? The gifts themselves weren’t taxable.

Foreign gifts generally aren’t taxable income. But U.S. taxpayers who receive more than $100,000 from family abroad may have to report it on Form 3520 under IRC §6039F.

Jinming Zhang received the gifts but filed the form late.

The penalty: 5% of the gift per month, up to 25%. The IRS initially assessed $71,777, later reduced to $57,422.

Zhang sued for a refund, arguing the IRS couldn’t automatically assess the penalty and that it amounted to an unconstitutional excessive fine.

The court rejected both arguments, finding that §6039F allows the penalty to be collected through the IRS’s normal assessment procedures.

But two issues remain open:
▪️ Reasonable cause: Did she have a valid reason for filing late?
▪️ Managerial approval: Did the IRS obtain the required supervisor approval under IRC §6751(b)?

The lesson:
“I don’t owe tax” does not always mean “I don’t owe the IRS.”
Some of the most expensive IRS penalties come from missing reporting forms, not unpaid taxes.
If you receive gifts from family overseas, hold foreign accounts, or have other cross-border activity, make sure you understand the reporting requirements.

Don’t let a missed filing deadline cost you five figures. 💡

Book a free consultation with us: https://scheduler.zoom.us/investor-friendly-cpa/client-intake-investor-friendly-cpa-llc

Buying equipment for your business may do more than support growth. It may also help reduce your taxable income.

Business owners may be able to claim deductions for qualifying equipment. Computers. Software. Office furniture. Machinery. Workspace improvements. And certain business vehicles.

Two common strategies are Section 179 and bonus depreciation. Both may allow eligible businesses to deduct a significant portion of qualifying asset costs in the year the assets are placed in service.

The key is proper planning and documentation. Keep receipts. Invoices. Business use records. Purchase dates. And depreciation schedules organized throughout the year.

The best deduction strategy depends on your business structure. Asset type. Business use percentage. Placed in service date. And long term tax plan.

Not sure which business infrastructure deduction could save you the most?

Follow the link to schedule a free consultation with a CPA at INVESTOR FRIENDLY CPA®. https://scheduler.zoom.us/investor-friendly-cpa/client-intake-investor-friendly-cpa-llc

He really did use his car for business. He still lost over $21,000 in write-offs.

Meet the cautionary tale of Parker v. Commissioner (a real Tax Court case).

The guy was a personal trainer. He drove a custom built 1969 Camaro to client appointments, to research, all over town. Real business use. Not made up.

So on his return, he wrote off his vehicle like a lot of business owners do. Around $32,000 in total car costs, claiming the car was about 80% business. That came out to roughly $25,870 in vehicle expenses, plus depreciation on top.

Then the IRS audited him.

And here's the part that should make you nervous.

They didn't say his car was personal. They didn't say he was lying. The problem was he couldn't PROVE it. No mileage log. No odometer records kept during the year. Nothing written down at the time showing which drives were business and which were just... driving.

So after the audit started, he tried to rebuild it. Calendars. Estimates. Google Maps. He even argued the car was actually 97% business.

The court didn't buy the reconstruction. You can't recreate a year of driving from memory and expect it to hold up.

So they slashed his vehicle write off from $25,870 down to $4,815. Over twenty one thousand dollars in deductions, gone. Not because the driving was fake. Because the records were missing.

Now be honest with yourself for a second.

If the IRS asked you tomorrow to prove your business miles, could you? Do you have a log with the date, the miles, where you went, and why? Or do you just have a percentage you feel good about?

That gap, between what's true and what you can prove, is exactly where solid business owners get burned. Not the cheaters. The ones who never wrote it down.

Your vehicle is one of the biggest write offs you have. But it only survives if you track it as you go. A number you estimate in April is not the same as a log you kept all year.

Save this post so you remember it before you file. 📌

And if you want someone to make sure your deductions can actually survive the IRS, follow to schedule a free consultation call with us. https://scheduler.zoom.us/investor-friendly-cpa/client-intake-investor-friendly-cpa-llc