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Category Archives: Tax Tips for Real Estate Professionals

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Can I Deduct That? Personal Use of Rental Property

Tax Tips for Real Estate ProfessionalsBy Emily WilliamsNovember 3, 2024

When you own rental property, one of the key tax benefits is deducting rental expenses from your rental income, but things can get more complex when you also use the property for personal purposes. Real estate investors may purchase properties based on the appeal of using it for vacations, family reunions, or making it available…

Real Estate Professional – Do You Qualify?

Tax News, Tax Tips for Real Estate ProfessionalsBy Emily WilliamsAugust 30, 2024

Real Estate Professional status is a unique designation under U.S. tax law that can have significant benefits for individuals involved in real estate activities. Here’s a breakdown of what this status means, how to qualify, and why it matters for your tax situation. What is Real Estate Professional Status? Real estate professional is a tax…

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