Landlording tax topics we cover: rental income and deductible expenses repairs, improvements, and assets basis and depreciation capital gains passive losses limitations real estate professional status and more! “The class was excellent. There were so many incorrect assumptions that I had. Now they ...
STR Loophole IRS Audits: Three Arguments the IRS is Making […] read more IRS Schedule E: The Ultimate Guide for Real Estate Investors […] read more Kamala Harris Tax Plan: The 2024 Election […] read more Tax Court Denies Real Estate Professional Status for Carriage House Investor ...
As the year is ending, there’s one topic that everyone in real estate should be thinking about… Tax planning. With 2024 just around the corner and new initiatives by the IRS beginning, it’s vital that now more than ever we’re tuned into the nuances of pesky tax rules. That’s why...
IRS Schedule E: The Ultimate Guide for Real Estate Investors […] read more Kamala Harris Tax Plan: The 2024 Election […] read more Tax Court Denies Real Estate Professional Status for Carriage House Investor […] read more STR Loophole IRS Audits: Three Arguments the IRS is Making [...
He next tried to claim that it was the tax preparer’s mistake and not his. They lost that part of the argument as well. The Court and the IRS are actively challenging taxpayers who claim status as real estate professionals to provide complete and accurate records. ...
Digb is the leading provider of tax filing and tax advisory services to rental owners and real estate investors.
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The Top 10 Tax Benefits of Real Estate Investing 1. Depreciation Shelters Income From Tax The IRS uses depreciation to acknowledge that an asset wears down over time. Somehow they discovered that residential real estate wears down in exactly 27.5 years (sarcasm intended). Other assets havedifferent...
How to Qualify as a Real Estate Dealer for Tax Purposes The IRS rules for real estate dealer status are broad; they focus on intent and point-of-sale attributes. In other words, if an investor buys a property with the intent of selling it, they will be a real estate dealer for that ...
and any potential cash flow you receive from your real estate investment, getting a precise ROI may be more complicated. For tax purposes, in particular, you will most likely want to consult an accountant or other tax professional who is familiar with the rules as they apply to real estate....