10 November 2025 | 48 replies
Also you may want to familiarize yourself with the term "Democratic Socialism" and come to terms that we have many socialized components of society already (police, fire, teachers, roads, infrastructure etc.) and many states pay more in taxes than they get back from the Federal government... those excess tax payments are "socialized" to many of America's less economically strong states.
29 September 2025 | 18 replies
Whether a rental activity is subject to self-employment tax is dependent on the level of services provided in conjunction with the rental property, not if the taxpayer is a real estate professional or not.
20 October 2025 | 16 replies
Taxpayer uses this material participation method:(2) The individual's participation in the activity for the taxable year constitutes substantially all of the participation in such activity of all individuals (including individuals who are not owners of interests in the activity) for such year;E.g., they buy operating STR in December, don't hire a property manager, housekeeper or landscape maintenance guy until January.
25 September 2025 | 11 replies
ATGIf there is a management firm, it would be difficult for taxpayer to meet this standard.
9 October 2025 | 33 replies
If it's not well defended, they will bully the taxpayer into giving up tax benefits.
13 September 2025 | 5 replies
Estimated tax payments are due April 15th, June 15th, September 15th and December 15th / January 15th.If you see that your tax burden increases every year, you may want to see if you qualify for the safe harbor estimated tax payment(110% of prior year tax) and then make the remaining balance due by April 15th with the extension.Best of luck!
22 September 2025 | 8 replies
A taxpayer will be considered a real estate professional if (1) more than one-half of the total personal services the taxpayer performs in trades or businesses are performed in real property trades or businesses in which the taxpayer materially participates and (2) the taxpayer performs more than 750 hours of services during the tax year in real property trades or businesses in which the taxpayer materially participates.
23 September 2025 | 1 reply
Section 469(c)(7) provides an exception that allows qualifying taxpayers to treat rental real estate activities as nonpassive, enabling them to deduct losses against other types of income.
28 September 2025 | 15 replies
Inspired Healthcare also cancelled several clients DST's and returned the funds, you can see how this is problematic for the taxpayer if they are past the 45th day to identify alternative investments!