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How Real Estate Professional Status Can Benefit Property Owners
Navigating the complexities of real estate taxation can be daunting, especially when aiming to achieve the status of a Real Estate Professional under IRS guidelines. This designation is coveted among property owners and investors due to its potential to significantly reduce how passive activity losses are taxed. Let’s delve into what it means to be a real estate professional,
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Where Is My Refund? What To Do When Your Refund Is Way Overdue (And Why a New IRS Notice Might Be The Reason)
If your federal tax refund is seriously overdue, it’s normal to feel worried — especially if you were counting on that money for bills or other expenses. Before panic sets in, here’s a clear, practical guide explaining what may be happening, why a new IRS administrative change could be the culprit, and exactly what steps you should take now. Quick Checklist
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AI Isn’t Replacing Your Business. But It Is Changing How You Scale It
There’s a lot of noise around AI right now. Some of it is about job loss. Some of it is about disruption. Most of it is not particularly helpful when you are trying to run a business day-to-day. The real question is more practical. Can this help you operate more efficiently, reduce operating costs, and grow without increasing overhead at the same pace? Because for most small
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The IRS Is Paying Attention Again: Why More Taxpayers Are Getting Notices
For a period of time, IRS activity felt quieter. Response times were longer. Enforcement felt less visible. Fewer taxpayers were hearing from the IRS directly. Many people got used to that environment. Now things are shifting. Not all at once, but steadily. More notices are being issued. More requests for clarification are being sent. More follow-ups are happening on
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Beat the SALT Cap: How PTET Lets Pass-Through Owners Reclaim State Tax Deductions
If you pay substantial state and local taxes (SALT) and feel the pain of the federal cap on SALT deductions, you may find relief if you are eligible to use the pass-through entity elective tax (PTET), a planning tool to overcome the limit on deducting state and local taxes as an itemized deduction on your
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Checking Your Federal Refund Status Is Easy
As you are no doubt aware, the IRS has made a significant shift in its approach to issuing tax refunds by discontinuing the practice of sending refunds via paper checks. This change is part of an ongoing effort to enhance efficiency and security in processing tax returns. By moving towards electronic transfers, the IRS aims to reduce
A+P CPAs
Certified Public Accountants | Business Advisors
