lasbre.com » United States http://www.lasbre.com Lasbre Fri, 03 Sep 2010 08:58:20 +0000 http://wordpress.org/?v=2.6.1 en How/where to deduct real estate training fees on taxes? http://www.lasbre.com/2009/02/10/howwhere-to-deduct-real-estate-training-fees-on-taxes/ http://www.lasbre.com/2009/02/10/howwhere-to-deduct-real-estate-training-fees-on-taxes/#comments Tue, 10 Feb 2009 00:00:00 +0000 admin http://www.lasbre.com/2009/02/10/howwhere-to-deduct-real-estate-training-fees-on-taxes/
DJP asked:


I plan on getting a real estate license for the education and qualification when managing my private real estate investment career.

Where/how do I deduct these costs on my taxes? Eventually I’ll set up a real estate company where I could deduct them, but that won’t be set up for a while.

Thanks.

Baltimore real estate

]]> http://www.lasbre.com/2009/02/10/howwhere-to-deduct-real-estate-training-fees-on-taxes/feed/ I have a IRS lien filed against my Real Estate. How long do I have before the property is placed for auction? http://www.lasbre.com/2009/02/10/i-have-a-irs-lien-filed-against-my-real-estate-how-long-do-i-have-before-the-property-is-placed-for-auction/ http://www.lasbre.com/2009/02/10/i-have-a-irs-lien-filed-against-my-real-estate-how-long-do-i-have-before-the-property-is-placed-for-auction/#comments Tue, 10 Feb 2009 00:00:00 +0000 admin http://www.lasbre.com/2009/02/10/i-have-a-irs-lien-filed-against-my-real-estate-how-long-do-i-have-before-the-property-is-placed-for-auction/
FineArt1983 asked:


A lien was recently [July, 2007] placed by the IRS against a piece of Real Estate in New York that is owned by an Estate that I am the Executor of.

How long do I have from the time the lien was placed by the IRS to the time that the IRS forces the property for sale or auction? If the property is forced for sale or auction by the IRS is there some type of redemption period that I have?

The Estate does not want me to sell the Real Estate.
The estate will be able to pay the IRS what it owes within three months. Do I have that much time before the property is placed to auction or sale?

Arlington Heights homes

]]> http://www.lasbre.com/2009/02/10/i-have-a-irs-lien-filed-against-my-real-estate-how-long-do-i-have-before-the-property-is-placed-for-auction/feed/ Can I deduct real estate taxes in NY from more than one home on my federal tax return? http://www.lasbre.com/2009/02/10/can-i-deduct-real-estate-taxes-in-ny-from-more-than-one-home-on-my-federal-tax-return/ http://www.lasbre.com/2009/02/10/can-i-deduct-real-estate-taxes-in-ny-from-more-than-one-home-on-my-federal-tax-return/#comments Tue, 10 Feb 2009 00:00:00 +0000 admin http://www.lasbre.com/2009/02/10/can-i-deduct-real-estate-taxes-in-ny-from-more-than-one-home-on-my-federal-tax-return/
Albert T asked:


I bought a new house and havent sold the first one yet? Can i deduct mortgage interest from both? What about real estate taxes? Both houses are in NY city.

merchant cash advance
]]> http://www.lasbre.com/2009/02/10/can-i-deduct-real-estate-taxes-in-ny-from-more-than-one-home-on-my-federal-tax-return/feed/ If I claim to be a real estate professional for tax purposes, is my income subject to FICA? http://www.lasbre.com/2009/02/10/if-i-claim-to-be-a-real-estate-professional-for-tax-purposes-is-my-income-subject-to-fica/ http://www.lasbre.com/2009/02/10/if-i-claim-to-be-a-real-estate-professional-for-tax-purposes-is-my-income-subject-to-fica/#comments Tue, 10 Feb 2009 00:00:00 +0000 admin http://www.lasbre.com/2009/02/10/if-i-claim-to-be-a-real-estate-professional-for-tax-purposes-is-my-income-subject-to-fica/
capn bob asked:


I qualify as a real estate professional for tax purposes. I own and manage over 25 rental properties. I have not claimed that status in the past. I have recently married and my husband has retirement and investment income in excess of the maximum income amount allowed under the passive activity rules. If I make a profit from my investments, am I subject to FICA taxes on that income? Is there a downside to claiming real estate professional status?

Chicago Real Estate
]]> http://www.lasbre.com/2009/02/10/if-i-claim-to-be-a-real-estate-professional-for-tax-purposes-is-my-income-subject-to-fica/feed/ How do deduct real estate taxes on 1040a? http://www.lasbre.com/2009/02/10/how-do-deduct-real-estate-taxes-on-1040a/ http://www.lasbre.com/2009/02/10/how-do-deduct-real-estate-taxes-on-1040a/#comments Tue, 10 Feb 2009 00:00:00 +0000 admin http://www.lasbre.com/2009/02/10/how-do-deduct-real-estate-taxes-on-1040a/
petersruby20 asked:


I purchased a home in October, 2007. My monthly mortgage payment includes my county, state, and school taxes (they are placed in Escrow).

Apparently my tax payments will be paid out of escrow in April, May and August of 2008.

Does that mean that I can not claim real estate for my 2007 return?

(At closing, I did have to reimburse the seller for real estate taxes he had already paid up to Dec. 31.)

keyless car remotes

]]> http://www.lasbre.com/2009/02/10/how-do-deduct-real-estate-taxes-on-1040a/feed/ How do you know if you can claim Real Estate Professional? http://www.lasbre.com/2009/02/10/how-do-you-know-if-you-can-claim-real-estate-professional/ http://www.lasbre.com/2009/02/10/how-do-you-know-if-you-can-claim-real-estate-professional/#comments Tue, 10 Feb 2009 00:00:00 +0000 admin http://www.lasbre.com/2009/02/10/how-do-you-know-if-you-can-claim-real-estate-professional/
Jenga asked:


I don’t want to get audited by the IRS but I hear that Real Estate Professional - non passive activity is a big issue - can you tell me what the IRS will question and look for if I claim Real Estate Professional, do they require anything when you are audited? Please advise. Any help will be great!

Oakland retail space
]]> http://www.lasbre.com/2009/02/10/how-do-you-know-if-you-can-claim-real-estate-professional/feed/ I’m a 2nd year real estate agent, how much is a reasonable amount in business expense write offs? http://www.lasbre.com/2009/02/10/im-a-2nd-year-real-estate-agent-how-much-is-a-reasonable-amount-in-business-expense-write-offs/ http://www.lasbre.com/2009/02/10/im-a-2nd-year-real-estate-agent-how-much-is-a-reasonable-amount-in-business-expense-write-offs/#comments Tue, 10 Feb 2009 00:00:00 +0000 admin http://www.lasbre.com/2009/02/10/im-a-2nd-year-real-estate-agent-how-much-is-a-reasonable-amount-in-business-expense-write-offs/
mcurry81 asked:


I’ve made less this year than last in my real estate business because the market is really bad right now. I have much more in business expenses though. I don’t want to be audited, just wondering if anyone out there with experience knows what a reasonable amount in expenses for just having one sell.

Mar Vista Homes
]]> http://www.lasbre.com/2009/02/10/im-a-2nd-year-real-estate-agent-how-much-is-a-reasonable-amount-in-business-expense-write-offs/feed/ How can taxes you pay on real estate benefit your income tax return? http://www.lasbre.com/2009/02/10/how-can-taxes-you-pay-on-real-estate-benefit-your-income-tax-return/ http://www.lasbre.com/2009/02/10/how-can-taxes-you-pay-on-real-estate-benefit-your-income-tax-return/#comments Tue, 10 Feb 2009 00:00:00 +0000 admin http://www.lasbre.com/2009/02/10/how-can-taxes-you-pay-on-real-estate-benefit-your-income-tax-return/
ocman21 asked:


I’m doing a project for my business class, and I need lots of informations on this question.

Also I have another question:
What type of taxes do you have to pay on real estate?

Boston homes for sale

]]> http://www.lasbre.com/2009/02/10/how-can-taxes-you-pay-on-real-estate-benefit-your-income-tax-return/feed/