For over 25 years we have been helping Real Estate professionals, rental property owners, and real estate investors get the most out of the tax benefits the law allows. During this time there have been many changes in the tax laws that affect those doing business in the real estate market and those who own and invest in property.
If you are involved in a real estate trade or profession, you may be entitled to special tax treatments for rental losses you suffer on rental property you own. It’s important to make sure that your principal activity qualifies you for these special tax breaks, and we may be able assist you in arranging your business activity and records so that you qualify for these added benefits, available only to those engaged in a real estate trade or profession.
If you are a rental property owner or real estate investor, there are many complex tax and record keeping requirements that must be followed to get every possible tax benefit from your property ownership.
We use every area of the tax code to help you pay the lowest tax allowed by law. The firm owners are experts in the acquisition, operation, sale, exchange, and tax consequences of rental and investment property ownership. They have experience in all aspects of property management and operation.
Our experts understand:
- Foreign Ownership & Tax Reporting
- Like Kind Exchanges
- Depreciation & Basis Calculations
- Activate & Material Participation Rules
- Mixed Use Property & Related Allocations
- Component Depreciation
- Passive Loss Rules & Carry Forwards
- At Risk Rules
- How To Find Often Overlooked Deductions
- Sales Tax on Short Term & Commercial Rentals
- Installment Sales
- Short Sales
- Conversion of Personal Use Property to Rental Property
- Mortgage Debt Reduction & Forgiveness of Debt
- Real Estate Sales & Brokerage Professional Expenses
Real Estate Professionals get special treatment under the tax code. Their deductible losses are not limited to $25,000 and this deduction does not phase out based on AGI. Want to know more about who qualifies as a real estate professional click here.
Take the first step to making sure that you don’t miss out on any deductions if you are a rental property owner. Click Here to get a copy of our rental property income & expense worksheet.
If you are a real estate sales person or broker Click Here to get our special worksheet of deductions you should not overlook.