by Bob Jablonsky | Dec 19, 2019 | Dallas TX, Frisco Tx, Garland TX, Home Sale, IRS Debt Relief, IRS Debt Settlement, IRS Notices, IRS Penalties, IRS Problems, Plano TX, Real Estate Agents Tax Deductions, Real Estate Tax Deductions, Richardson TX, Tax, Tax Compliance, Tax Deductions, Tax Deductions Real Estate
Each year, clients either come into our Richardson, TX tax office and ask if they need to pay taxes on the sale of their residence, call concerned about taxation on the Sale of their personal residence, or make an assumption that income on the Sale of a personal...
by Bob Jablonsky | Nov 26, 2019 | Dallas TX, Frisco Tx, Garland TX, IRS Problems, Plano TX, Real Estate Agents, Real Estate Agents Tax Deductions, Real Estate Tax Deductions, Realtors, Richardson TX, Small Business, Tax, Tax Deductions, Tax Deductions Real Estate, Tax Deductions Realtors, Tax Problems, Tax Relief
In December of 2017, the Tax Cuts and Jobs Act (TCJA) introduced a new “Qualified Business Income Deduction” (QBID) under IRS Section 199A. The QBID provided a deduction of up to 20% of qualifying income on the tax return and enable major tax savings to small business...
by Bob Jablonsky | Nov 21, 2019 | Dallas TX, Frisco Tx, Garland TX, IRS Problems, Plano TX, Real Estate Agents, Real Estate Agents Tax Deductions, Real Estate Tax Deductions, Realtors, Richardson TX, Small Business, Tax, Tax Deductions, Tax Deductions Real Estate, Tax Deductions Realtors, Tax Relief, taxes
In this week’s installment in our series of taxation and investing in Real Estate we will discuss allowable loss limitations on Real Estate Investments. Real Estate investing is well known as having the ability to generate non-cash losses that may be deductible...
by Bob Jablonsky | Nov 14, 2019 | Dallas TX, Expense Reduction Tips, Frisco Tx, Garland TX, IRS Problems, Plano TX, Real Estate Agents Tax Deductions, Real Estate Tax Deductions, Richardson TX, Small Business, Tax, Tax Deductions, Tax Deductions Real Estate, Tax Problems, Tax Resolution, Uncategorized
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 who comes...
by Bob Jablonsky | Nov 6, 2019 | Dallas TX, Frisco Tx, Garland TX, Plano TX, Real Estate Agents, Real Estate Agents Tax Deductions, Real Estate Tax Deductions, Realtors, Richardson TX, Small Business, Tax, Tax Deductions, Tax Deductions Real Estate, Tax Deductions Realtors, Tax Problems, taxes, Uncategorized
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...
by Bob Jablonsky | Oct 31, 2019 | Dallas TX, Frisco Tx, Garland TX, IRS Audit, IRS Collection, IRS Debt Settlement, IRS Notices, IRS Penalties, IRS Problems, Plano TX, Richardson TX, Tax, Tax Deductions, Tax Levies, Tax Problems, Tax Relief, Tax Resolution, taxes, Uncategorized
Typically, married couples file their Income Taxes using Married Filing Joint status without any thought. For most couples, the combined tax burden of the household will be lower when using Married Filing Joint (MFJ) status vs. using Married Filing Separately (MFS)...
