Plano TX – Loss Limitations for Real Estate Investors

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 against other income for the

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Plano TX – Tax Deductible Expenses for Real Estate Rental Properties

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

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Frisco TX – Why Married Taxpayers Should Consider Filing Separately

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) status, so it makes sense to

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Plano TX – What is Currently Not Collectible Status from the IRS?

Big companies are known for getting all sorts of breaks, but when average people fall behind, they rarely receive help. When you owe back taxes, but can’t afford to pay them, then you may qualify for a special tax status known as currently not collectible. If you’re

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Plano TX – Have You Received an IRS Final Notice of Intent to Levy? Here’s What You Should Do!

If a Taxpayer has IRS Debt and it gets far enough through the collection process, eventually the IRS will send a Final Notice of Intent to Levy. This will be a different form depending on which section of the IRS is sending the notice, but typically, it is

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Plano TX – How to Effectively Navigate the IRS Collection Process if you have IRS Debt

Do You know the IRS and don’t know where to start? This is one of our older videos that gives an overview of how to attack your IRS Debt! If you need professional help, call Bob Jablonsky at (972) 821-1991.  

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Tax Deductions that Realtors often Miss

Among the top professional industries that my Dallas, TX tax firm works with are realtors.  As independent contractors, realtors often incur substantial out of pocket costs to run their business. Today, I want to cover some of the costs that I typically see from realtors and some

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Dallas TX – 4 Mistakes That You Don’t Want To Make When Filing Your Income Taxes!

4 Mistakes That You Don’t Want to Make When Filing Your Taxes. (They Could Land You In Tax Trouble) It can be a stressful experience preparing your taxes and filing them. It can be even more stressful however, if you make these mistakes that land you into

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Plano Texas – How to Work With the IRS to Avoid an IRS Tax Levy

What is an IRS Tax Levy? Probably the most frequent reason that I have clients come into my Richardson, TX office related to IRS debt are when they are levied by the IRS.  An IRS levy permits the IRS to legally seize the taxpayer’s property, including garnishing wages, taking

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