real estate tax deductions: Real Estate Investing and Income Taxes - 10/23/19 07:34 AM
Investing in Real Estate has been a very effective way for Americans to build wealth. With rising real estate prices combined with low interest rates, it has become even more popular. Today, we’ll cover some of the topics that come up when taxpayers who invest in real estate come to our Dallas, TX office. For today, at a very high level, we’ll discuss the general rules around rental properties including allowable income and expense and taxation. In future blogs, we will cover specific issues in more depth.
 
Rental Income
As a general rule, you must include in your gross income all amounts received … (0 comments)

real estate tax deductions: Tax Deductions That Real Estate Agents Sometimes Miss But Shouldn't - 10/09/19 08:23 AM
One of the most common professional groups that my Dallas, TX tax firm works with are realtors. As independent contractors, realtors often incur substantial out of pocket costs to run their business.
 
Today, I want to cover some of the costs that I typically see from realtors and some that I feel that they miss due to their process for bookkeeping and/or keeping records.   I’m not covering everything here, just areas that I usually see that get tricky or missed.  
 
Auto Costs – Realtors spend a lot of time on the road and have two alternatives for deducting auto costs: Actual … (2 comments)