In general, business travel expenses must be considered both “ordinary and necessary” to be tax-deductible. Ordinary means it is common and accepted within the trade or business. Necessary means it…
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Legal & Taxes:
Understanding Passive Activity Limits and Passive Losses [2023 Tax Update]
As a rental property owner, it’s not uncommon for your properties to produce a net loss for tax purposes thanks to depreciation and other operating expenses. The treatment of these…
Real estate corporations and tax time: Your FAQs [2023 Update]
In order to scale our real estate investing businesses, many of us form companies to ensure tax efficiency and liability protection—to name only a few benefits. Companies are the best…
10 Common Landlord Tax Deductions [2023 Update]
Familiarize yourself with these top landlord tax deductions that can help reduce your tax burden to the IRS. 1. Depreciation Depreciation is one of the biggest and most important deductions…
Advanced tax strategies for real estate investors: FAQs [2023 Update]
So you’ve been around the real estate investing block a few times. You understand the basics of the tax efficiencies that come with owning real estate investments: deductions, 1031 exchanges,…
Short-Term Rentals and Related Taxes [2022 Update]
With the increasing popularity of short-term rentals thanks to Airbnb, VRBO, and other vacation rental platforms, it’s important to understand some of the tax issues related to owning and operating…
Real estate tax strategies for 2022 [+ the real estate professional status]
We’ve covered the basics of taxes for real estate investing over the past month, including deductions, 1031 exchanges, business travel, and more. In fact, we even teamed up with the…
The 20% pass through tax deduction: FAQs [2022 Update]
As real estate investors, we’ve heard a lot this year about the new tax benefit for our businesses referred to as the 20% pass-through deduction. Simply put, this incentive allows…
COVID-19 rental assistance programs
The American Rescue Plan Act was recently passed, providing billions in economic stimulus. Landlords and tenants can now access various rental relief programs that were contained in the bill. These…
