Winning Tax Strategies for Real Estate Professionals
Online
2.00 Credits
Member Price $89.00
Non-Member Price $124.00
Overview
Learn how material participation rules can significantly impact the tax treatment of your real estate activities. This course explains the IRS tests for material participation, how to distinguish active from passive activities, and strategies for documenting participation to maximize tax benefits. A detailed analysis of the self-rental passive activity rules will be given, including forms reporting examples and integrates them with the flow-through entity rules related to self-rental.
This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.
Objectives
After attending this presentation, you will be able to...
- Identify the passive activity and flow-through entity rules for "real estate professionals" and show how these situations should be reported on various tax forms.
- Apply planning strategies and address potential pitfalls.
Highlights
The major topics that will be covered in this course include:
- Identify tax deductions available to real estate professionals
- Integration of the real estate professional rules with reporting on Form 1040, Schedule E
- Real estate professionals and indirectly owned (partnerships, S corporations) entity’s reporting on Form 1040
- Real estate professionals and the Form 8582 (Passive Activities)
- How "real estate business" is interpreted under the Section 199A rules and how it integrates with the passive activity rules
- How to make the "grouping" election for passive activities and the flow-through deduction
Designed For
CPAs working in public accounting firms and members in industry.
Prerequisites
Basic working knowledge of business and real estate taxation.
Preparation
None
Notice
You will receive an email from CPA Crossings via Webex with instructions to access the webinar.
Leader(s):
Leader Bios
Steven Dilley, CPA, J.D., PhD, Federal Tax Workshops
Steve is President of Federal Tax Workshops, Inc., East Lansing, Michigan, where for the past 33 years, his organization has prepared continuing professional education materials and presented seminars for accountants and attorneys throughout the United States. He is nationally known for his knowledge of the financial, accounting, and tax problems of the closely held business and individual taxpayers. He has published numerous articles on these topics.
In addition, Steve is a Professor of Accounting at Michigan State University, East Lansing, where he teaches tax accounting. He received the 2005 "Distinguished Achievement in Accounting Education Award" in Michigan. He also received the 2007 "MSU Accounting and Information Systems Department Outstanding Teacher Award."
He obtained his Ph.D. in accounting, law degree and an undergraduate accounting degree from the University of Wisconsin-Madison. He is a member of the Michigan Association of CPAs, Wisconsin Bar Association, The American Accounting Association, AICPA, American Tax Association, and Hawaii Association of Public Accountants.
Non-Member Price $124.00
Member Price $89.00