Who wouldn’t want their travel to be tax-deductible? Here’s the basics of the rule: If your trip is primarily for your business, then it is tax-deductible. If it’s not primarily for your business, it’s not tax-deductible. Sorry, but unfortunately your personal trips are not tax-deductible for your real estate business. Well, like we said, if […]
Real estate investors are always asking what expenses landlords can deduct. Because the answer to that question can quite literally be endless, we often tell our clients to record everything. For those expenses that our clients are unsure about, we ask them to create an “ask my accountant” category or account in their bookkeeping solution which […]
Anyone who owns property wants to shell out as little to the IRS as possible come tax time. Do you also want to go a little green? Maybe reduce your month to month energy costs too (always, right)? The 179D tax deduction was made for you! Here, the real estate tax experts at The Real […]
The tax code is so darn complicated that mistakes are bound to happen. In most cases, folks who are using big box software brands to self-prepare their tax returns feel that the software adequately meets their needs. But boy do things change once one enters the world of alternative asset investing, especially when it comes to […]
If you have a rental portfolio, there’s a good chance that you have passive losses. If you’re above a certain income threshold, you likely have suspended passive losses. And if you’re not using a CPA well-versed in real estate taxation, you’ve probably been told that there’s nothing you can do about these suspended passive losses.
You’re a savvy investor. You’ve just turned one of your rental units and are ready to place a new tenant. A friend of yours mentions how well they have done with short term rentals so you figure you’ll turn to a popular platform and give it a try. AirBnB, VRBO, and Homeaway make it extremely easy […]
Big news coming out of D.C.! I was on the BP podcast and it just released today. A link to it is provided below. I hope you enjoy and feel free to email me with questions at firstname.lastname@example.org.
It’s been awhile since I’ve last posted. Almost two months actually. I took a break both from writing for The Real Estate CPA and BiggerPockets mainly because business is heating up (a good thing!) and I’m trying to successfully implement my new monthly pricing model. It’s working well but has come with numerous headaches. The […]
The Section 121 exclusion is used to avoid capital gains on property that you have owner occupied. This article discusses a unique strategy allowing you to use the Section 121 exclusion while also maintaining ownership of the property.
The last thing our military clients want to worry about is taxes. In Part I of our military series, we discuss at a high level the basic tax benefits available to military members.