Author Archives: admin

About admin

Check out My Space page for a more information on me. In your search type "Gary Sweat". I was born and spent the first 28 years of my life in Richmond, California. I have also lived in San Diego and North Idaho. I moved to Washington State in 1991. I have 30 years of experience as an Accountant. • After graduation from college I worked for a financial services firm in Oakland, California. The firm was comprised of CPAs and attorneys. I was in charge of all financial needs for 25 businesses. Duties were preparation of financial statements, income tax and sales tax returns, obtaining business licenses and giving tax and operational advice to the businesses. I also prepared payroll and payroll reports for my clients. The job entailed extensive use of RIA and CCH references for tax research. Clients ranged from medical groups, delicatessen chains, transmission repair chains and many others. I was employed with this company for 3 ½ years. • In 1983 I opened my own CPA firm in Vacaville, California. My clients required me to prepare financial statements for their companies, as well as every type of tax return (1040, 1065, 1041, 1120 and 1120S) along with state returns. Clients also needed payroll, payroll reports and sales tax returns. My duties required tax research and advice on a wide variety of topics. As a result of close proximity to Travis Air Force Base I prepared tax returns for many states due to the relocations, both civilian and military. In addition to my initial office, I opened two more offices in Fairfield and Walnut Creek, California with a total of nine employees at these offices. • In 1992 I had an opportunity to purchase a CPA practice in Friday Harbor, Washington. Friday Harbor is located in the San Juan Islands of Washington State. Duties remained consistent with the types of work I had been performing in Vacaville, but with many more clients. • In 2001 I relocated my firm to offices in Bothell and Bellevue, Washington. • Over the years the majority of my clients have come to be real estate agents and their clients. Therefore, for quite some time I have specialized in preparing tax returns for real estate agents. • I received so many requests for tax advice from real estate agents that I authored a book - “Tax & Financial Tips for Real Estate Agents.” I used ecommerce solutions to promote the book and it has sold in all 50 states. I am continually called on to provide advice concerning a wide variety of tax questions, preparation and advice, both locally and in other states. • I am also a retired Real Estate Agent. Check out my website: http://agentstaxtips.com

Haven’t filed your tax returns in a long time?

I frequently prepare tax returns for people who have not filed their income tax returns for 5, 10 and even more years. If you are in this situation you are not alone. A lot of people, who are real estate … Continue reading

Posted in Uncategorized | Leave a comment

People who can’t pay taxes they owe

I received calls from two types of people who can’t pay the taxes they owe.  The first type is people who have not filed their tax returns.  The second type is people who have filed their tax returns, but cannot … Continue reading

Posted in Uncategorized | Leave a comment

Your commissions start coming in: now what do you do?

This blog entry is targeted primarily for new agents, but also may be of use to established agents. Often I hear from real estate agents, who have been successful for a number of years, in selling properties. They are calling … Continue reading

Posted in Uncategorized | Leave a comment

Estimated tax payments – what you need to know

Estimated tax payments are advance payments for your Federal income taxes.  When you are an employee your employer sends in your income and social security taxes for you.  Self-employed individuals, such as real estate agents, are responsible for making their … Continue reading

Posted in Uncategorized | Leave a comment

How much the wrong tax preparer can cost you

If your tax preparer does not specialize in real estate agents they may cost you plenty. There are three areas where you could be paying more in taxes or receiving less of a refund.  These critical areas are in taxes, … Continue reading

Posted in Uncategorized | Leave a comment

Net operating losses – your untapped goldmine

If you had a bad year in your real estate business this blog entry may put a smile on your face and money in your wallet. As we all know, even though we may try as hard as we can, … Continue reading

Posted in Uncategorized | Leave a comment

The biggest expense – business use of your vehicle

This blog segment goes into depth about the expenses connected with the business use of your car so you do not miss any of these valuable deductions. If you use your car for business purposes, you can deduct car expenses.  … Continue reading

Posted in Uncategorized | 1 Comment

The importance of cash receipts

In this segment I will continue with tips on how you can best manage your money, take the most deductions legally possible and avoid being audited.  An important area for you to take advantage of is your cash receipts for … Continue reading

Posted in Uncategorized | Leave a comment

The most profitable way to present your financial records to the IRS

The goal of every taxpayer should be to pay the least amount of taxes possible.  I do not pay a penny more than I absolutely have to and neither should you. The way you present your financial information to the … Continue reading

Posted in Uncategorized | Leave a comment

The most important advice for you

Real Estate Agents often ask me what is the best way for them to save on their income taxes. Without question the one best way for you to save on your taxes is to keep the best records of your … Continue reading

Posted in Uncategorized | 5 Comments