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Tax Benefits of Owning Your Own Home

There are many tax benefits to home ownership (owning your personal residence).  These include tax deductions that you can claim in the year that you purchase the home, along with tax deductions for the years [...]

Real Estate Professionals and Tax Planning

Qualifying as a Real Estate Professional has many tax benefits which help to reduce current income taxes.  Like most other tax planning strategies, the rules are complex and often very confusing.  This short article on real estate [...]

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Rental Property Tax Deductions

Many rental property owners fail to account for all of their "ordinary and necessary" rental property tax deductions, causing them to overpay their taxes every year.  These include any actual out-of-pocket expenses (such as repairs, [...]

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Education Expenses: Are They Tax Deductible for Your Business?

Education expenses are tax deductible IF…    The education costs are:   (1)  Required by your employer or by law to keep your job, OR (2)  Needed to improve your skills you use [...]

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Real Estate Benchmark Calculations

Many new real estate investors struggle with the financial calculations needed to determine if a particular piece of property is a worthy investment.  While there are many factors that go into this important decision, we [...]

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Second Quarter 2016 Tax Updates

This brief letter has tax updates (Second Quarter 2016) concerning work clothing tax deductions, Obamacare, cash payments for IRS now accepted at 7-11 and the Social Security wage base for 2017.  Some of these important tax [...]

Stock Market Trader

There are many tax benefits to being classified as a "stock market trader" (including the ability to deduct all trading-related expenses and make mark-to-market election)- do you qualify? Download Stock Market Trader