How Real Estate Professional Status Can Benefit Property Owners

Article Highlights: Real Estate Professional Status Tax Benefits Qualifications Personal Services Real Property Trade or Business 750 Hour Rule Material Participation Multiple Property Owners Property Aggregation Navigating…

Considering Selling Your Second Home? Read This First!

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Article Highlights: Motivations for Selling: Tiring of Property Management Retiring and Downsizing Taking Advantage of Appreciation Family Transfers Changing Personal Goals or Circumstances Tax Strategies and Issues …

Unlocking Wealth: How Exchanges Can Transform Your Real Estate Investments

Article Highlights: The Basics of Section 1031 Exchanges Key Requirements Limitations Imposed by the Tax Cuts and Jobs Act State Considerations The Role of a Qualified Intermediary Types of 1031 Exchanges Boot in 1031…

Can States Save Seniors? Fighting the Rising Costs of Property Taxes

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Property taxes are a significant financial burden for many Americans, particularly senior citizens. Rising property taxes have begun to jeopardize the financial stability of older adults living on fixed incomes. In response, some states are…
Facing a Huge Gain from a Realty Sale?

Facing a Huge Gain from a Realty Sale?

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If you are contemplating selling real estate property, there are a number of issues that could impact the taxes that you might owe, and there are steps you can take to minimize the gain, defer the gain, or spread it over a number of years. The…
Tax Reform Has Substantially Altered the Tax Benefits of Home Ownership

Tax Reform Has Substantially Altered the Tax Benefits of Home Ownership

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As part of the recent tax reform, the Tax Cuts and Jobs Act of 2017, the deduction for home mortgage interest and property taxes has undergone substantial alterations. These changes will impact most homeowners who itemize their deductions each…
Filing a 1099-MISC May Now Apply to Landlords. Are You Collecting the Needed W-9s?

Filing a 1099-MISC May Now Apply to Landlords. Are You Collecting the Needed W-9s?

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If you use independent contractors to perform services for your business or your rental that is a trade or business, for each individual whom you pay $600 or more for the year, you are required to issue the service provider and the IRS a Form…
Vacation Home Rentals How the Income Is Taxed

Vacation Home Rentals: How the Income Is Taxed

If you have a second home in a resort area, or if you have been considering acquiring a second home or vacation home, you may have questions about how rental income is taxed for a part-time vacation-home rental. The applicable rental rules…
Short-Term Rental, Special Treatment

Short-Term Rental, Special Treatment

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With the advent of online sites such as Airbnb, VRBO, and HomeAway, many individuals have taken to renting out their first or second home through these online rental sites, which match property owners with prospective renters. If you are doing…
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Yes, Student Debt is Delaying Homeownership

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Article by Katie Lobosko | Found on CNN.com College grads have claimed for years that they were putting off buying a home because of student debt. Now, there's strong proof that their loans really have pulled down homeownership rates. About…