James Park
Qualifying as a real estate professional for tax deduction purposes
I would like to qualify as a real estate professional in 2012, but i know the minimum hours you need to spend on real estate activities is 750 hours. I did not spend 750 hours in RE activities in 2011 to qualify. From...
Taylor Mason
For tax purposes, am I considered a Real Estate Professional?
For the past year, I’ve worked full-time as a licensed multifamily investment sales agent. It’s worth noting that I am an independent contractor as well. Would I qualify as a Real Estate Professional for tax purposes?...
Ryan Aylward
Mortgage Lender, CPA (Tax Professional) & Real Estate Lawyer Recs
All,Can anyone recommend any of the following professionals to talk with in Houston, TX? Primarily looking for these professionals to have experience in commercial (apartment) real estate:-CPA (specifically looking fo...
Ramiro De Leon
First time investor looking for a tax professional in Colorado
Hi, all. Would anyone be able to recommend a tax professional with experience working with first time home-buyer/investor in Castle Rock, CO?For background, in 2022 I purchased my first home and moved from Texas to C...
Alex Lee
Real estate professional status to offset federal and state taxes
Hello,First post in this forum. I am looking into becoming a real estate professional to grow my portfolio long-term and to reduce my earned income tax %. Would becoming a REP and materially participating in rentals r...
John Malone
Recent Tax Court Case on Failed Real Estate Professional...Again!
A recent tax court case shows why the IRS is so successful in winning REP cases against taxpayers. The case Gregory F. Teague et al. v. Commissioner was pretty easy for the IRS to win. Honestly, quite surprised this...
Austin Spitzenberger
STR CPA/Tax Professional - Cost Seg, bonus dep, active etc.
Good morning BP Community,
I am running a cost segregation on my STR that I launched this year. I am seeking recommendations on someone that can help me with tax prep and filing for year 2022 that is incredibly knowl...
Brian Pink
Joplin, MO Area Tax Liens and Deeds Attorneys and Professionals
Hello! I'm currently wrapping up my second flip and am wanting to invest some profits into tax liens and deeds in the Joplin, Mo market. I've been doing a ton research on it, but still have much to learn. Are there an...
Jesse Fernandez
Leveraging the short term tax loophole for cost segregation qualification
I am looking to take advantage of cost seg for a 2 unit MF property - which has tenants for long term rental (let's call this property A)I know that in order to take advantage of cost segregation, there are no speci...
Eric Williams
W-2 Income and Depreciation Offset - HIGHLY UNLIKELY
It makes sense to want depreciation to offset ordinary income.
Here's the kicker:You need to establish that you are real estate professional. Then you establish material participation.There are two tests to a real es...