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Tax Law and Family Court: What You Need to Know About Divorce, Custody, and Your Tax Obligations

Divorce is already one of the most stressful life events that many of us will go through. There’s a reason the expression is “going through a divorce”–it is truly a process to be endured. There…

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Tax

Deciding How to File Taxes Once Married: Jointly or Separately?

You know that Frank Sinatra great “Love & Taxes?” Or those many romantic films that end with the couple riding off into the sunset, only to tumble into a large country bed with their tax…

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Tax

How Long Are Investors on the Hook for a Tax Assessment?

Most of us real estate investors know the importance of keeping the Taxman happy. But he has time to determine if he’s happy. With the prevalence of IRS-related scams, we feel it’s important that real…

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Scam Alert: How to Know if IRS Demands for Taxes Owed Are Legitimate Or Scams

Imagine you’re sitting in your office or at home going about your daily business, and you get a phone call. The caller informs you that you owe the IRS money. They go on to explain…

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Tax

How You Can Save Thousands in Taxes with an S-Corp

If you are an active real estate flipper or wholesaler then you are more than likely subject to the self-employment tax (15.3%). Read on to discover how you can save thousands on your tax bill…

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When to File Taxes Separately if a Married Real Estate Investor

Many married couples elect to file their taxes jointly because it is genuinely cheaper. Well, most of the time. If you’re a real estate investor, you likely already know that the typical rules don’t always…

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Charitable Gift Options Using a Self-Directed 401(k)

Charitable contributions are a popular strategy among the wealthy for lowering tax payments. But this method isn’t exclusively for the Michael Dells and Kim Kardashians of the world. Investors from all income levels, including you,…

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Section 280A: Home Office Deduction Rules

Many people who have office jobs envy those who can work from home. If you’re a small business owner, freelancer, or kick-ass entrepreneur who uses a home office, you probably know that the truth is…

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Double Your Real Estate Investment Return With a Tax-Efficient 401(k) Strategy

Did you know that you can use a self-directed IRA for your real estate investment? I’ve talked about this  before and you can read more from our article about self-directed IRA investments.  There’s no doubt…

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Top 3 Types of Tax Professionals Real Estate Investors Should Be Aware Of

When dealing with life’s only two certainties, it’s hard to tell which…

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Tax

Are Land Trusts Disregarded Entities for Tax Purposes?

A land trust can provide anonymity and asset protection, but how are they treated for tax purposes? It will depend on the type of trust you decide to form. Land trusts can be “simple, complex,…

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Tax

Can Each Series in a Series LLC be Taxed Differently?

A Series LLC is a limited liability company that allows you to create multiple entities under one “master LLC”. Each new entity is called a “child series” and can have separate membership interests, assets, operations…

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Flipping Over Using an LLC for Real Estate Investments – Do It Strategically

Are you an investor who buys and sells properties? Do you deal in tax liens or deeds or engage in property investment activities in which you never hold on to property for longer than a…

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How a 401(k) Affects Real Estate Investors on Tax Day

You are probably already familiar with the benefits of a 401(k) for retirement planning. But did you know that using this type of account can also help you save on your taxes? In fact, there…

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Don’t Pay Taxes With Your Credit Card

If you have considered paying your taxes with a credit card, you’re not alone. The urge can be strong, if only because of the convenience factor. Some investors are tempted to pay this way in…

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What Are The Tax Filing Requirements of a Partnership?

Partnerships, and LLCs taxed as partnerships (MMLLCs), do not pay tax at the partnership level. Instead, their income and losses are passed through to the individual partners, and reported on their individual or corporate tax…

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Tax

Calculating the New Pass-Through Deduction for Real Estate Investors

The Pass-Through Deduction, introduced by the Tax Cuts & Jobs Act, allows sole proprietors, partnerships, and S-Corporations to deduct up to 20% of their qualified business income (QBI).  Since many real estate investors operate under…

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How is A Land Trust Different Then A Standard Trust?

A land trust is defined as an entity used to hold title to real estate. Unlike the standard trust, usually land trust doesn’t involve family. Also, a land trust offers versatility for real estate investors…

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Are Legal Expenses Tax Deductible for Real Estate Investors?

When it comes to legal expenses, what can and cannot be claimed as a tax deduction can be confusing. In fact, the answer really depends on the nature of the legal expense itself. Whether you’ve…

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Unpaid Debt Can Take Your Tax Refund as a Real Estate Investor

At Royal Legal Solutions, taxes are always on our minds. We know…

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Are Charity Auction Purchases Deductible Contributions for Real Estate Investors?

Charities often hold auctions as a way to gain valuable contributions that…

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Getting The Most Out of Employee Business Deductions

As an individual taxpayer, the Internal Revenue Service (IRS) allows you to make certain deductions. For example, you can make miscellaneous itemized deductions in relation to expenses incurred during your employment. For the most part,…

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Preventing Tax Problems When Partners Travel

As a business entity, tax laws can be rather confusing. While come of the tax codes, as established by the Internal Revenue Service (IRS), are straight forward, others can be complex. The professionals at Royal…

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Is My Airbnb Subject to The Self-Employment Tax?

Typically, rental real estate is a passive activity, reported on Schedule E,…

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How Full-Time Real Estate Investors Save Thousands in Taxes by Electing to be Treated as a Real Estate Professional

The tax code can be a wonderful thing for real estate investors, especially for those who invest full-time. This is because there is a special rule that can save taxpayers, active in a real estate…

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