Michael is a Federally licensedEnrolled Agent(EA) with over 20 year of experience representing clients in dealings with the IRS: audits, letters, collection matters. We use Michael's unique expertise in tax preparation, tax planning, real estate and business operations. Michael is still actively ...
the IRS has been cracking down on investors who attempt to use their passive real estate professional investment losses to offset other income.
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...
Digb is the leading provider of tax filing and tax advisory services to rental owners and real estate investors.
Being savvy about when and how to apply these suspended losses can be a strategic part of your long-term tax planning. Real estate professionals' special allowance If you qualify as a real estate professional by IRS standards (spending more than half of your working hour...
Disk 1: IRS Taxes for Landlords Disk 2: IRS Taxes for Rehabbers and Flippers IRS taxes can swallow up to 40% of your profits. With the state taxes added, it can get to 50% – HALF of your money! Good news: real estate investing offers huge tax benefits! Bad news: the IRS rules ...
Our articles cover all of the trending topics, fresh advice and real-world guidance that you need to succeed in real estate investing. Tax Court Denies Real Estate Professional Status for Carriage House Investor […] read more STR Loophole IRS Audits: Three Arguments the IRS is Making […]...
Consult with a Tax Professional: Tax laws can be complex and vary by location. Consulting with a tax professional who understands the nuances of real estate and self-employment tax can provide tailored advice and ensure compliance. Plan for Tax Payments: Consider the impact of commission advances...
Tax Court in a case about a loss deducted on a tax return of a real estate business. The Internal Revenue Service (IRS) did not allow the deduction. The taxpayer countered that he was entitled to the full loss because he was a real estate professional. The court ruled in favor of the...
IRS Forms Self-employed tax center Tax Refund Advance Crypto Taxes Credit Karma Money TurboTax Blog TurboTax Canada Products for previous tax years Free TurboTax Mobile App Offer - Free Tax Filing on Android or iOS Early Tax Refunds Tax & Online Software Products ...