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Understanding The $25,000 Special Allowance
If you have active income from salaries, wages, business income, you can offset up to $25,000 of your ordinary income from losses in real estate.
How To Get Most Out Of Your Short-Term Rentals
Short term rentals do not necessarily mean you have to rent out your property on Airbnb and VRBO. For example, there are investors who specialize
How One Real Estate Investor Leveraged The Benefits Of The O-Zone Program And Saved $240k In Taxes
Austin has owned an apartment in Nevada for over 10 years. This year, he sold the apartment and has taxable capital gains of $1.5million and
How To Avoid Capital Gains Taxes By Investing Into An O-Zone Property
What Is the Opportunity Zone Program? The Opportunity Zone Program was created for the purpose of revitalizing certain economically distressed communities. And the rationale behind
Does Rental Income Qualify for the 20% QBI deduction?
In the pass-through tax deduction, the first 20% of certain types of income may be completely tax-free. So if you are a business owner and you
Is A Home Business Considered A Tax Shelter?
I’m not going to spend time by simply giving you a list of eligible business expenses or how to take the home office deduction. I’m
How Do Estate Taxes Even Work?
Kathy dies in 2021. She is a widow and her estate has a net value ( after paying off all debts) of $17m. The estate
What Happens When Both You And Your Spouse Decide To Work Together In The Same Business?
When both you and your spouse decide to work together, you form something known as a Qualified Joint Venture ( QJV). You can file as
How Does The Owner/Shareholder Gets Taxed In An S-Corporation?
They pay taxes the following ways: Since the S-Corp tax return is an informational return, which means no tax is paid alongside it, the owner/shareholder