Nick Aiola

About Nick Aiola

Nick Aiola is the CEO of Aiola CPA, PLLC - a 100% virtual CPA firm, specializing in tax planning and preparation for real estate investors.
Nicholas Aiola, CPA - Why Depreciation Is a Landlord's Best Friend - Searching 2
Raise your hand if you’ve heard of depreciation before. Now, raise your hand if you can define what depreciation (in relation to accounting) is… Allow me to help – depreciation is the allocation of the cost of an asset over its useful life. It represents the decrease in the asset’s […]

Why Depreciation Is a Landlord’s Best Friend

Nicholas Aiola, CPA - Homeowners vs. Real Estate Investors: What the Changes in the Property Tax and Mortgage Interest Deductions Mean for You - House
Trump’s new tax bill was signed into law, wrapped, and put underneath the tree just in time for Christmas, marking the biggest tax overhaul in over thirty years. If you find yourself in a panic and a bit of a haze trying to figure out what this all means for […]

Property Tax and Mortgage Interest Deduction Limit Explained

Nicholas Aiola, CPA - Tax Deductions for House Hackers: What to Deduct on Your Owner-Occupied Rental Property - Homes 11
Renting out a portion of the home you own and live in––whether it be one or more units in a multi-family property or rooms in a single-family house––is a great way to jump-start your real estate investing portfolio. Owner-occupying, or house hacking, can help you generate some extra cash or […]

House Hacking Tax Deductions: What to Deduct on Your Owner-Occupied ...

Nicholas Aiola, CPA - 4 Steps to Teach Your Kids About Taxes with the "Candy Tax" - Candy Tax
Who doesn’t love trick-or-treating? In my heyday, I would head out into the Halloween night dressed as a ninja, a power ranger, or whatever I thought would help me rake in as much candy as possible. My brother and I used pillowcases––not those amateur plastic pumpkins or little bags––to collect […]

Candy Tax – A Fun Way To Teach Your Kids ...

Nicholas Aiola, CPA - How to Make Sure Your Side Business isn't a Hobby (And Why That Would Be Bad) - Lemonade Stand
I love to draw. As long as I could remember, I would always doodle in class my spare time. The thought of creating and selling artwork on the side has crossed my mind multiple times, and I was always faced with the same questions: How much time would I put into […]

Hobby Income vs Business Income: How Does the IRS Classify ...

Nicholas Aiola, CPA - Why Big Tax Refunds Are Bad News - Bad News
Who doesn’t love getting a nice, big tax refund? Me, that’s for sure. It may sound unconventional, but here are a few reasons why: You’re letting the government hold your money all year Simply put, you get a refund when you pay in more taxes (i.e., through withholding or estimated […]

Why is Receiving a Large Tax Refund a Bad Thing?

Nicholas Aiola, CPA - How The IRS Treats Profits Made From Flipping Houses - Flipped House 12
The real estate market has certainly bounced back from the crash in 2008. Prices have surged over the past few years and continue to steadily climb, causing many experts to anticipate a recession in the real estate market in the near future. For real estate investors, this marks a great […]

How to Report House Flipping on Your Tax Return

Nicholas Aiola, CPA - How Timing Your Security Sales Could Save You Some Tax Dollars - Capital Gain
Buying securities (shares of a public company’s stock, mutual fund, ETF, etc.) is one of the most common ways to invest your money. Although it’s easy to set up a brokerage account and start investing, it takes a little more planning to figure out the best time to sell. Types […]

How To Reduce Capital Gains Tax On Stocks By Timing ...

Nicholas Aiola, CPA - When You Should Expect to Receive Your Tax Forms - Mailbox
It’s almost February, which means your tax forms should start rolling in over the next couple of months if they haven’t already. Below is a timeline of when you should expect to receive all your tax documents necessary for filing your 2016 tax return. Income Related Documents Here are the […]

When You Should Expect to Receive Your Tax Forms

Nicholas Aiola, CPA - Just Purchased a New Home? Dont Miss Out on These Tax Deductions - Sold House
About a month ago, the time finally came where I left my parents’ nest and moved out on my own to a land far, far away… 1.4 miles away, to be exact. It was my first home-buying experience and it sure felt like it. If you’re like me and just […]

Tax Breaks For Homeowners: Don’t Miss Out on These Tax ...

Nicholas Aiola, CPA - Roth or Traditional, Which IRA is Best for You? - Directional Signs 1
You’ve saved up some money and are ready to open an IRA. The good news is, that’s the hardest part. The bad news is, you’re not sure whether a Roth IRA or Traditional IRA is the right one for you. Check out the comparison below: Similarities Despite some pretty significant […]

What’s the Difference Between a Roth IRA and Traditional IRA?

Nicholas Aiola, CPA - To Invest, or to Pay Down Debt, That Is the Question - Direction 1
Got some extra cash and not sure what to do with it? Maybe you received a nice bonus, your birthday just passed (if so, happy birthday!), or you finally decided it was time to take the money from under your mattress and put it to good use. In any scenario, […]

Should I Invest or Pay Off Debt?