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Tax Topics in Real Estate

  • ACCT/BK
  • AFSP
  • CRTP
  • CPA (US)
  • EA
  • ORTP
  • ChFC
  • Maryland Tax Prep.
  • FSCP
  • WMCP
  • CFIRS
  • CWS

Published: January, 2022

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Before starting this self study program, please go through the instructional document.

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • Types of entities
    12 mins
  • S Corporations
    24 mins
  • Form 1040 - Sole proprietorship
    40 mins
  • Types of real estate businesses
    49 mins
  • Material participations
    77 mins
  • One-participant 401 (k) plan
    99 mins

Course Description

Buying or selling real property always carries extensive tax implications. Because sales or purchases of real estate generally involve significant amounts of money, the impact of tax errors that occur, or opportunities that are missed in the transaction, are exaggerated.

Therefore, it is imperative that real estate transactions be fully and thoroughly analyzed for their tax ramifications in advance of their closing.

Real estate investors who buy and hold properties for rentals, those who purchase properties to fix and flip, and real estate agents all participate in different types of business activities in the eyes of the IRS. It is important to know when and how to report rental income, how you can deduct rental expenses, and how to divide expenses for personal vacation homes.

Real estate prices are at record highs and many of your clients are selling their real estate.

What are their choices with dealing with the tax bill?  

This CPE/CE course will look at various issues revolving around taxes and real estate.

We will look at items such as choice of entity for people in the real estate business, depreciation, real estate professionals, record-keeping for businesses retirement planning, health insurance, and other various aspects involved in real estate businesses.

After viewing this CPE/CE webinar you should have a firm understanding of the tax aspects involved with your clients who have real estate

Learning Objectives

  • To analyze how the choice of entity impacts real estate clients.
  • To determine if your client is a real estate professional.
  • To discuss retirement and health insurance options for real estate clients.
  • To inspect different rules that apply to real estate investors, brokers, landlords, etc.
  • To analyze record-keeping requirements for tax deductions with real estate.

Recommended For

  • In this IRS Approved CE course for AFSP, CPA (US), EA, CTEC, ChFC®, FSCP®, WMCP, Tax Professionals, and Other Professionals who want to help their clients in managing efficient Real Estate investments.

Who Should Attend?

  • Annual Filing Season Program
  • Bookkeepers & Accountants & Tax Preparers
  • California Registered Tax Professional
  • Certified Public Accountant (CPA)
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Enrolled Agent
  • Maryland Tax Preparers
  • Oregon Tax Preparers
  • Tax Accountant (Industry)
  • Tax Attorney
  • Tax Professionals
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 3 CE Credit for Annual Filing Season Program (AFSP)
  • 3 CE Credit for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0818)
  • 3 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 3 CE Credit for Enrolled Agents (EA) (Approval No. GEHNZ-T-00882-22-S)
  • 3 CE Credit for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-00882-22-S)
  • 3 CPE Credit for Chartered Financial Consultant (ChFC)
  • 3 CE Credit for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-00882-22-S)
  • 3 CPE Credit for Financial Services Certified Professional (FSCP)
  • 3 CPE Credit for Wealth Management Certified Professional (WMCP)
  • 3 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 3 CE Credit for Certified Wealth Strategist (CWS)
  • 3 General Credit for Accountant/Bookkeeper (ACCT./BK)

Additional details

  • Course Level :
    Basic
  • Credits :
    3
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

IRS APPROVED

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.

NASBA APPROVED

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.

CTEC APPROVED

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.

Presenter

About Presenter

Nicholas Preusch

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).

Faq

FAQs content

  • To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
  • Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
  • You must attend complete live webinar and respond to all polling questions asked during the webinar. Credits would be issued on 50 minute credit hour basis.
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  • This event may be a recorded rebroadcast of a live event done in past and the instructor will be available to answer your questions during/after the webinar.
  • If you still face the polling problem please don’t panic and provide your response in the chat and we shall consider the same for processing for credits. You can download Zoom by clicking on the mentioned link : https://zoom.us/download
  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.

Ratings and Review

4.5

21 Ratings

Excellent

11

Very Good

10

Average

0

Poor

0

Terrible

0

CW

Carole Whitlock, ACCT/BK, EA

May 10th, 2022

A great overview of real estate related activities. Much was a review, but picked up some additional things to consider.

JK

James Koon, EA

Feb 17th, 2022

Nick's conversational manner in presenting complex tax topics makes for an easy listening experience.

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