Midwest CPA Logo
Book A Call

Real Estate

qualify for reps

Qualify as a Real Estate Professional and Save Thousands

Introduction Real estate professional status, commonly referred to as REPS, is a powerful tax planning strategy that can often result in thousands of dollars in savings for real estate investors. However, it is a very complicated and closely monitored portion of the tax code, so you need to be careful. Avoid taking shortcuts that may …

Qualify as a Real Estate Professional and Save Thousands Read More »

bonus depreciation

Is Bonus Depreciation Going Away for Real Estate Investors?

Overview The Tax Cuts and Jobs Act of 2017 increased Bonus Depreciation from 50% to 100% for assets placed in service between September 27, 2017, and January 1st, 2023. In this article I’m going to go over what Bonus Depreciation is, what happens now that the 100% deduction has expired, and how it will affect …

Is Bonus Depreciation Going Away for Real Estate Investors? Read More »

short term rental tax

Do You Materially Participate In Your Short-Term Rental?

Dear IRS, I am writing to you to cancel my subscription. Please remove my name from your mailing list. – Snoopy One tax strategy high income W2 employees who do not qualify as real estate professionals can implement is utilizing depreciation on short term rental properties to create losses that can be offset against their …

Do You Materially Participate In Your Short-Term Rental? Read More »

Scroll to Top