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Category: Real Estate

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October 8, 2018
Revisit Your Business Plan to Prepare for the Year Ahead

Like many business owners, you probably created a business plan when you launched your company. But, as is also often the case, you may not have looked at it much since then. Now that fall has arrived and year end is coming soon, why not dig it out? Reviewing and revising a ...

September 13, 2018
Choosing the Right CPA Firm for Real Estate Compliance Audits

Choosing the right CPA firm for your annual real estate compliance audit:  Depending on the type of mortgage on your property, that may determine what type of compliance requirements are required to be reported annually. Property owners with mortgages that require any type ...

September 13, 2018
Capitalization Policy for Real Estate Companies

To capitalize or to expense? Property owners tend to struggle with wanting to expense as much repairs and maintenance (R&M) as possible during the year to maximize tax deductions, and to possibly increase any losses during the year. We assist many clients with determining wh...

September 11, 2018
New Rules for Home Mortgage Interest Deductions

The new federal tax law reduces the limit on home acquisition debt to $750,000. For married taxpayers filing separately, the debt limit is halved to $375,000. In addition the law generally disallows home equity debt interest. Although, home equity interest paid on home equit...

September 10, 2018
Considering House Hacking?

People have been sharing their homes for ages, but it has become much more popular with the rise of the sharing economy and the recent coining of the phrase “House Hacking,” which describes renting out extra rooms in your home, or renting part of a multi-family home whil...

Do you own a building? Cost segregation studies can be used to create a huge increase depreciation for one year when you own a building.
- Chris Wittich, CPA
January 1, 2018
Working as a Real Estate Professional

Rental property is a complicated subset of passive activities and making a real estate professional election can make a huge difference for people with rental losses.  Real Estate Professional basically means your full time job is real estate and it allows you to switch pas...

March 27, 2014
Like-Kind Exchange – Rental Property

A like-kind exchange is just that; an exchange of things that are similar.  They can be very useful in deferring gains on depreciated property.  The last post was about business vehicles, but there are many kinds of assets that can qualify for a like-kind exchange....