“Navigating Excess Business Loss Limits:What You Need to Know” To get my complete articlewith all the details… If your business saw a loss, the Tax Cuts and Jobs Act (TCJA) and subsequent tax law changes could limit your ability to deduct that loss on your tax return. In our new article, Navigating Excess Business Loss Limits: What You Need to Know, we break … [Read more...]
Passive income and losses
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[Important Tax Alert] Can Your Real Estate Pro Status Unlock Past Rental Losses?
“Can Real Estate Professional StatusFree Up Old Passive Losses?” To get my complete articlewith all the details… As tax season approaches, many real estate investors who've recently qualified as real estate professionals are asking a critical question: "Now that I'm a real estate professional, can I deduct all those passive losses from previous years?" The … [Read more...]
Real Estate Dealer or Investor? The IRS’s View Matters
“Are You a Real Estate Dealeror Investor?” To get my complete articlewith all the details… "Am I a real estate dealer or investor?" It seems like a simple question, but the answer could dramatically impact your tax situation. We've just published a comprehensive guide that: Clarifies how the IRS views each classification Explains the tax implications for … [Read more...]
Your Business Tax Breaks Could Vanish Soon—What’s at Risk?
“Game On: TCJA Winners and Losers— Business on the Chopping Block” To get my complete articlewith all the details… Warning: The tax landscape is about to shift dramatically. The TCJA provisions expiring in 2025 could substantially increase your tax burden overnight. Are you prepared for: Your qualified business income deduction (worth up to 20% of your profits) … [Read more...]
Unlock the Tax Secrets of Personal Property Rentals
"Unlock the Tax Secrets ofPersonal Property Rentals" To get my complete articlewith all the details… Are you renting out equipment, vehicles, or other personal property? If so, you could be missing out on crucial tax benefits – or worse, inadvertently breaking tax laws! Our latest article, "Know the Three Ways the Tax Law Treats Personal Property Rentals," is a … [Read more...]