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What is Security Deposit?9 mins
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Lease with option to buy21 mins
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Expenses paid by tenant34 mins
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General partner v Limited partner - Syndicate44 mins
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Small business safe harbor91 mins
Published: May, 2022
The most common way real estate offers a profit: It appreciates—that is, it increases in value. This is achieved in different ways for different types of property, but it is only realized in one way: through selling. However, you can increase your return on investment on a property in several ways. As a small business owner, tax deductions are always welcome. But, deductions aren’t static. Deductions change over time, and some go away completely.
In this IRS Approved Online CE/CPE tax course, we will look at the more quirky income and expense deductions that we have with our residential rentals.
As a rental property owner, it’s possible you could qualify for the 199A deduction if you meet certain requirements. Your ability to qualify also depends on the facts and circumstances of your situation. The 199A deduction has arguably been one of the most talked-about tax breaks included in the Tax Cuts and Jobs Act. Taxpayers who qualify for it can claim up to a 20% deduction on qualified business income (QBI) for businesses operated directly by the taxpayer or through a pass-through entity. For rental property owners, this can be a particularly valuable benefit.
This CE webinar Nicholas Preusch will also focus on IRC 199A and its impact on residential rentals. While it will not focus on the calculation and the specifics of 199A generally, it will look at the provisions which impact the rental real estate industry, such as aggregation, rental safe harbors, and the determination of trade of business status.
MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.
MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.
MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
MY-CPE LLC (Sponsor ID# : 6273) has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.
Certified Public Accountant (CPA), Nicholas Preusch
Nicholas has worked with the Internal Revenue Service as a
Revenue Agent and an Attorney with the IRS Office of Professional
Responsibility. Nicholas has authored publications for the AICPA’s Journal of
Accountancy, AICPA’s Tax Advisor, NATP’s Tax Pro Journal, and CCH’s Journal of
Tax Practice and Procedure. He also co-authored a textbook, Tax Preparer
Penalties and Circular 230 Enforcement, published by Thomson Reuters. Nicholas
has been recognized as the Top 5 Under 35 CPAs in Virginia, and is a member of
the AICPA’s Tax Executive Committee. Nicholas is an adjunct professor
at the University of Mary Washington. He is a graduate of Carthage College,
University of Connecticut (M.S. in Accounting), Case Western Reserve University
School of Law (J.D.), and Georgetown University (LLM in Taxation).
32 Ratings
GC
Jul 16th, 2022
Great course for real estate
GW
May 14th, 2022
I really enjoyed this presentation. It's really valuable to be able to hear perspectives from someone who has experience working as an IRS agent and in public accounting.
2 Credits
Subject Area
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