by ConvergeCPA | Mar 1, 2022 | NOL rules, Real Estate, Real Estate Tax
For the real estate industry, several favorable components of the Tax Cuts and Jobs Act (TCJA) enacted Dec. 22, 2017, and the Coronavirus Aid, Relief, and Economic Security (CARES) Act enacted March 27, 2020 are expiring, and the implications to taxpayers involved in...
by ConvergeCPA | Aug 27, 2021 | Biden Tax Proposals, Real Estate, Real Estate Tax
Background As originally outlined in his “American Families Plan” on April 28, Biden’s individual tax proposals included increasing the top individual ordinary income tax rate from 37% to 39.6%, taxing capital gains and qualified dividend income at ordinary rates for...
by ConvergeCPA | Jan 18, 2018 | Real Estate Tax
On December 22, 2017, President Trump signed into law tax reform legislation known as the Tax Cuts and Jobs Act (the “Act”). The Act provides the real estate industry with some significant benefits. The key provisions of the Act impacting real estate include the...
by ConvergeCPA | Sep 9, 2013 | Blog, Real Estate, Real Estate Tax
Under the passive activities loss rules (PAL) – that is, activities in which you do not “materially participate”, tax losses from rental real estate activities cannot be deducted against non-passive activity income (such as salary, professional fees, income from a...
