Anders CPA

JULY 25, 2023

If you’re a taxpayer with income from rental activities or other real estate investments , it’s important to understand whether the IRS considers you a real estate professional. This consideration impacts the tax treatment of any rental income or losses and, consequently, may result in significant tax savings.

Real Estate 52

Real Estate Tax Non-Profits income tax 52

Cherry Bekaert

NOVEMBER 6, 2023

Company Background An award-winning residential real estate home builder with projects in Georgia and South Carolina was able to take advantage of the Section 45L Energy Efficient Home Credit (Section 45L) to save more than $350,000. By providing tax incentives and credits, homes can be more affordable for buyers.

Real Estate 75

Real Estate Construction South Carolina Tax 75

CTP

DECEMBER 8, 2022

Using real estate as a source of income is only becoming more popular with the advent of sites like Airbnb and VRBO that enable homeowners to earn extra cash from property they already own. Taxpayers who are new to leveraging real estate for income may be unfamiliar with the tax loopholes available to them.

Real Estate 98

Real Estate tax planning income tax Tax 98

Cherry Bekaert

AUGUST 29, 2023

As a result of the major changes in the Section 45L tax credit, there are new qualifications that businesses must meet to benefit from the energy tax opportunities. Contact Us The post How Real Estate and Construction Companies Can Take Advantage of the Expanded Section 45L Tax Credit appeared first on Cherry Bekaert.

Real Estate 86

Real Estate Construction Tax Hospitality 86

Withum

MAY 16, 2022

The COVID-19 pandemic has had a dramatic impact on commercial real estate values, and in some cases resulted in property no longer being able to support the debt with which it is encumbered. How coronavirus hit commercial real estate – GREEN STREET ADVISORS. not insolvent).

Real Estate 131

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Withum

FEBRUARY 22, 2024

The act expands existing clean energy tax credits and enhances tax deductions to further incentivize the development and use of clean energy products and technologies. 179D allows an alternative method for immediate tax deductions. The modified legislation also allows specified tax-exempt entities to allocate any Sec.

Real Estate 52

Real Estate Tax Construction CPA 52

RogerRossmeisl

FEBRUARY 4, 2024

If you’re interested in selling commercial or investment real estate that has appreciated significantly, one way to defer a tax bill on the gain is with a §1031 “like-kind” exchange. For these purposes, like-kind is broadly defined, and most real property is considered to be like-kind with other real property.

Real Estate 203

Real Estate Tax CPA business tax 203

CTP

JULY 27, 2021

The post The Real Estate Tax Implications of California Prop 19 appeared first on certifiedtaxcoach. The Real Estate Tax Implications of California Prop 19 was first posted on July 27, 2021 at 9:00 am. ©2017 " certifiedtaxcoach " Use of this feed is for personal non-commercial use only.

Real Estate 98

Real Estate California Tax 98

Withum

JUNE 13, 2023

Real estate investors generally want to do everything possible to maximize their return on investment when investing in residential rental properties. This means the property’s depreciation deduction is calculated by dividing the tax basis by 27.5. years ($5,000,000 / 27.5 yrs. = $181,818/yr.).

Real Estate 69

Real Estate income tax Tax 69

RogerRossmeisl

AUGUST 6, 2023

If you subdivide it, develop the resulting parcels and sell them off for a hefty profit, it could trigger a large tax bill. In this scenario, the tax rules generally treat you as a real estate dealer. net investment income tax (NIIT) for a combined federal rate of up to 40.8%. And you may owe state income tax too.

Tax 243

Tax Real Estate income tax CPA 243

Withum

MAY 17, 2023

Introducing a new video series tailored to Real Estate professionals on trending topics in the Real Estate industry, tax subjects and more! Seeking relevant information in your Real Estate realm? Tune in for more episodes! Subscribe to Withum’s YouTube channel for more exciting episodes!

Real Estate 52

Real Estate Tax 52

Withum

FEBRUARY 24, 2023

One of the most effective ways to manage that risk is to enter a tax hedge with a third party. In a traditional tax hedge, a taxpayer borrows money from a bank at a variable rate. In a tax hedge, the taxpayer who is paying the variable rate to the bank would pay the counterparty a fixed rate based on that loan amount.

Real Estate 69

Real Estate Gaming Tax 69

KROST

NOVEMBER 30, 2021

The real estate market can be volatile, full of risks and challenges. Real estate professionals should enlist an expert to ensure compliance and navigate the specifics of real estate tax and accounting. Your business will benefit from our wide range of tax, audit, and advisory services.

Real Estate 52

Real Estate Tax CPA audit 52

xendoo

JUNE 25, 2021

As the owner of a new real estate business, you’re probably aware of the unique characteristics of your industry. You take a personal interest in the real estate market, and you are excited to do great work for your clients, whether buying or selling pieces of property. . Real estate investment management.

Real Estate 98

Real Estate Account accountant accounted 98

RogerRossmeisl

JANUARY 5, 2022

Do you want to sell commercial or investment real estate that has appreciated significantly? One way to defer a tax bill on the gain is with a §1031 “like-kind” exchange where you exchange the property rather than sell it. However, neither the relinquished property nor the replacement property can be real property.

Real Estate 246

Real Estate Tax CPA cpa firm 246

Cherry Bekaert

FEBRUARY 24, 2023

These requirements aim to create good paying jobs in the clean energy space by offering enhanced tax credits to participating taxpayers. The IRA is critical in providing good paying jobs through offering enhanced tax benefits for a range of clean energy and green energy projects to taxpayers.

Real Estate 75

Real Estate Construction Tax 75

KROST

JANUARY 25, 2021

As an industry impacted by the pandemic, real estate businesses can benefit from several key tax provisions in the package. The Tax Cuts and Jobs Act (TCJA) allowed a real property trade or business to elect out of the limitation on the deduction for business interest expense. New Markets Tax Credit.

Real Estate 92

Real Estate CPA Tax public accounting 92

Accounting Today

FEBRUARY 26, 2024

Mayor Brandon Johnson's plan to increase taxes on real estate transactions of $1 million or more was dealt a major blow.

Real Estate 112

Real Estate Tax 112

Withum

APRIL 22, 2022

The real estate sector exists on both sides of the issue. The real estate sector faces significant and impending risks, which act as an incentive and a driver for change. What does this mean for real estate asset managers and investors? That is no longer the case. EPA.gov, 7 July 2021. Contact Us.

Real Estate 72

Real Estate New York Government Tax 72

Withum

MARCH 28, 2022

Residential and commercial real estate management company engages outsourced accounting services to fill needs after the retirement of a former outsourced accounting firm. A NYC-based residential and commercial real estate management company transformed its back-office through outsourced accounting services. The Client.

Real Estate 81

Real Estate Account accountant accounted 81

Withum

AUGUST 4, 2023

However, in tax years starting in 2022, these add-backs are no longer used to calculate the ATI of the taxpayer. Author: Harrison Lindsay, CPA | hlindsay@withum.com Contact Us For more information on this topic, please contact a member of Withum’s Real Estate Services Team.

Real Estate 52

Real Estate Construction CPA Tax 52

Cherry Bekaert

FEBRUARY 7, 2024

Understanding business entities and tax structures can save you a tremendous amount of time, money and potential headaches down the road. An LLC is one of four main legal business structures, whereas an S corp is a tax classification. This means that the partnership does not pay income tax. That rate is the sum of 12.4%

Real Estate 103

Real Estate Tax income tax Legal 103

CPA Practice

JANUARY 19, 2023

The Tax Blotter is a round-up of recent tax news. The tax law provides generous tax breaks to investors in real estate, but there are several key tax pitfalls to watch out for. Real estate is automatically treated as a passive activity. Be more active. Swap in time.

Real Estate 122

Real Estate Tax tax return income tax 122

Accounting Web

JANUARY 28, 2022

Tax When Vacation Rentals Are Commercial Real Estate.

Real Estate 85

Real Estate Tax 85

CPA Practice

JUNE 19, 2023

By Michael Aloi, CFP, Kiplinger Consumer News Service (TNS) I never recommend an investment solely for the tax benefits. If an investment makes sense as part of a diversified portfolio and can provide tax benefits, then it is a win-win. Real estate is one example. Like any investment, REITs have their pros and cons.

Tax 111

Tax Real Estate income tax Legal 111

KROST

JANUARY 14, 2021

trillion package that provides additional funding to the PPP program and includes several key provisions that will positively impact the real estate industry. Other Real Estate Related Provisions. Empowerment Zones (EZs) Tax Incentives for areas of high poverty and unemployment were extended through 2025.

Real Estate 69

Real Estate CPA Hospitality Tax 69

RogerRossmeisl

OCTOBER 30, 2023

The Tax Cuts and Jobs Act liberalized the rules for depreciating business assets. 179 deductions For qualifying assets placed in service in tax years beginning in 2023, the maximum §179 deduction is $1.16 179 deductions can also be claimed for real estate qualified improvement property (QIP), up to the maximum allowance.

Real Estate 264

Real Estate CPA Tax cpa firm 264

KROST

DECEMBER 15, 2020

This is a preview of one of the articles in the new KROST Quarterly Real Estate Issue , titled “Challenges Facing the Real Estate Industry in the Wake of COVID & the Election” by So Sum Lee. Learn more about KROST’s Real Estate Industry Services ».

Real Estate 69

Real Estate Delaware California accounting and finance 69

CPA Practice

MAY 3, 2023

Fernandez, Kiplinger Consumer News Service (TNS) For investors looking for a way to defer capital gains taxes when selling a real estate investment property, there are a variety of strategies to leverage depending on circumstances. Most real estate properties will be like-kind to other properties.

Real Estate 124

Real Estate Tax Delaware Washington 124

TaxConnex

JANUARY 12, 2023

It’s a fair bet, then, that sooner or later you’re going to be selling online into Puerto Rico, which has a sales tax. state with a sales tax has economic nexus thresholds – does Puerto Rico? Such companies must register with the Puerto Rico Department of Treasury and collect and remit Puerto Rico sales tax. Nexus for two years.

Sales 130

Sales Tax Real Estate Manufacturing 130

LSLCPAs

JULY 13, 2021

Section 45L Energy-Efficient Home Tax Credit Extended to December 31, 2021 The 45L tax credit was previously set to expire at the end of 2020. The post Real Estate Investors and Owners may be eligible for Energy-Efficient Home Tax Credit appeared first on LSL CPAs.

Real Estate 52

Real Estate Tax cpas 52

Cherry Bekaert

AUGUST 15, 2023

Property owners restructuring debt should be wary of tax consequences that could occur. Debt cancellation, foreclosures and short sales can often increase tax liability for cancellation of debt income. Contact Us The post Tax Implications of Debt Cancellation, Foreclosures & Short Sales appeared first on Cherry Bekaert.

Real Estate 98

Real Estate Sales Tax Hospitality 98

MyIRSRelief

MAY 1, 2024

Yet, amidst the excitement lurks a dark alley – the realm of taxes. Navigating complex tax codes, understanding specific forms like 1120, 1120S, and 1065, and ensuring compliance can feel like deciphering ancient scrolls. Here’s where a qualified business tax professional becomes your secret weapon.

Tax 130

Tax tax planning audit Non-Profits 130

LyfeAccounting

JULY 27, 2021

“Should I have multiple LLCs for real estate investing?” Of course, there are going to be some pros and cons of having multiple LLCs for real estate investing. 3 Factors to Consider If You Want Multiple LLCs for Real Estate Investing. ” Let’s talk about it. Keep reading! Less transactions.

Real Estate 52

Real Estate Legal accounting and finance Start-ups 52

TaxConnex

FEBRUARY 28, 2023

“Services” are generally not subject to sales tax while tangible personal property generally is subject to sales tax. Kentucky is the latest in terms of taxing specific services. The Bluegrass State looks to expand sales tax on what it calls high-growth services. Get in touch to learn more.

Kentucky 147

Kentucky Tax Real Estate Education 147

Katz,Sapper&Miller

JULY 30, 2020

The Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed into law earlier this year, provided multiple forms of economic relief for the real estate industry in the midst of the COVID-19 pandemic.

Real Estate 52

Real Estate Tax 52

CPA Practice

APRIL 15, 2024

Progress was cited in eliminating most of its tax return backlog, more on-time tax refunds, and improvements in customer service availability and responsiveness. Explosion in data sharing Tax agencies worldwide recognize the untapped potential of integrating new data sources into their processes. What has held them back so far?

Tax 119

Tax Kansas Real Estate Government 119