Rental property owners can reduce tax burdens by properly categorizing income and expenses, distinguishing between repairs and improvements, and keeping detailed records. Missteps in these areas can result in missed deductions or IRS issues. Consulting a real estate accountant for rental properties provides strategic tax planning to optimize deductions and ensure proper reporting.Read More

Understanding tax rules for real estate professionals can lead to significant savings, especially when managing rental properties. Key factors like material participation, passive activity loss rules, and rental property elections play a major role in tax planning. Working with a real estate tax accountant ensures compliance while helping property owners maximize deductions and structure their...Read More