In this week’s installment in our series of taxation and investing in Real Estate we will discuss who qualifies as a Real Estate Professional in the eyes of the IRS and what does it mean to be a Real Estate Professional. Generally, if I ask any taxpayer
Read more →Last week we covered reporting Rental Real Estate activities on tax returns. This week we’ll give an overview of Expenses. Next week, we will cover depreciation separately and we will continue to cover various topics pertaining to Rental Real Estate over the coming weeks. In general, the
Read more →When taxpayer’s come into our Richardson, TX tax office and have IRS Debt, IRS Liens are often the major issue they are working to resolve, either preventing a tax lien from being placed on their assets or removing an IRS Lien that exists. It’s much easier to achieve prevent one to
Read more →Last week we covered the general rules around reporting rental Real Estate activities on tax returns. This week we’ll begin to dive into more specific issues related to income tax reporting for Real Estate Investors, by covering the reporting of income on rentals. Today, we’ll cover income
Read more →Among the industries and professionals that my Dallas, TX tax firm works with include both Real Estate Investors and Real Estate agents. As independent contractors, real estate professionals often incur substantial out of pocket costs to run their business and those costs include the costs of using
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