California Assembly Bill AB 2962 was approved and signed into law by California Governor Arnold Schwarzenegger on September 22, 2006.

California's current income tax withholding law enacted in 2002 and effective Jan...

Anybody have any experience with an IRS Public Auction where the IRS is auctioning off the right, title and interest of the Taxpayer in and to the property?

This particular sale has a 180 day redemption period I cann...

Hello allMy brother and I have created a complicated mess with our real estate transactions over the past decade.  We're now trying to clean things up via an LLC.  Currently, we have some houses in California that we'...

Let's say you own three rental properties, and each property has its own LLC. What happens to the LLCs if you decide to trade the rental homes for an apartment building using a 1031 Exchange?  Are the LLCs not under y...

I’m sure folks saw this already, but just in case you didn’t:https://www.bisnow.com/national/news/economy/nar-recent-irs-tax-deadline-extensions-benefit-1031-exchanges-103865

Hi BP Team,Hoping there is a tax professional out there that can address my question.  I recently realized a significant 1231 loss.  I understand there is a 5 year carry over on this so if i realize any gains those ga...

Posting my response to a client's question, in order to get my colleagues input on this issue.Q: I have an investor who is actively investing in real estate on their own & have no f/t job. So spending enough time ...

I've been paying taxes to my local jurisdiction and the state directly using by local and state business ids. Recently, VRBO has disabled the ability for owners to pay their own taxes and VRBO pays it for them. The is...

Anyone familiar with the SHST (Safe Harbor for Small Taxpayers) - any insight here would be very much appreciated. Thank you!!1) I understand the safe harbor to be the lessor of $10k or 2% of the unadjusted basis of t...

I just replaced a refrigerator in my rental last year.  The cost of the fridge was more than the $2500 ( $2499 + tax + shipping).  Assuming that it is the only expense I have for my rental, can I expense the cost of t...