RogerRossmeisl
AUGUST 4, 2023
Your business may be able to claim big first-year depreciation tax deductions for eligible real estate expenditures rather than depreciate them over several years. 179 deduction can be claimed for real estate qualified improvement property (QIP), up to the maximum annual allowance. But should you?
CPA Practice
MARCH 27, 2024
By Dwight Kay, Kiplinger Consumer News Service (TNS) Historically, the practice of tax-smart investing has been a powerful strategy for real estate investors. Why is tax-smart investing so important for today’s investing landscape? First, DSTs qualify as “like-kind” real estate for the purposes of a 1031 exchange.
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CPA Practice
MAY 14, 2024
The NYU School of Professional Studies Division of Programs in Business will host the 2024 Federal Real Estate and Partnerships Tax Conference at the Mayflower Hotel in Washington, DC, from June 6 to 7. Wilner, CPA, Advisor, Grossberg Company, Bethesda, MD Dealer v. O’Connor, Esq., Schneider, Esq., Johnson, Esq.
Anders CPA
MAY 21, 2024
Qualifying as a real estate professional allows you access to a powerfully beneficial tax status but strict requirements around active and material participation determine who is eligible for the designation. Not all real estate or rental property activities count toward the tests.
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.
CPA Practice
FEBRUARY 13, 2023
Since individual investors (not corporate entities) own more than 70% of residential rental real estate , you likely have some clients who hold property assets and act as landlords for those properties. By David Wieland. With rising interest rates and prices, clients with investment properties may be feeling a pinch in income.
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.
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