Home Office Deductions

The Home Office Deduction By Pete Muffoletto, C.P.A

The home office deduction allows qualifying taxpayers to deduct certain home expenses on their tax return. With more people working from home, some taxpayers may be able to claim a home office deduction when they file their 2022 tax return next year. The following are some of the rules that relate to the home office deduction, and whether you…

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Tax Proposals

Biden Administration Tax Proposals Threaten Apartment Owners! by Kenneth Ziskin, Estate Planning Attorney and Ali Talai

As March ended this year, the Biden Administration issued a 250-page General Explanation of the administration’s fiscal 2023 revenue proposals, sometimes known as the “Green Book”. This is a very brief initial summary of the Green Book provisions which I believe would revolutionize, and have the greatest impact on, estate planning and real estate investing.…

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Billionaire's Tax

Biden’s “‘Billionaires’ Tax” Affects More Than Billionaires by Gary D. Halbert

In his federal budget for fiscal year 2023 that he unveiled earlier this month, President Biden proposed a huge new tax increase on America’s wealthiest citizens. The administration labeled it the “billionaires’ tax” and promised it would finally bring fairness to our tax code by making the richest Americans pay at least 20% of their wealth gains annually to…

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Prop 13

Proposition 13: Same Song, Different Decade by Jon Coupal, President of Howard Jarvis Taxpayers Association

More than 42 years ago, California voters overwhelmingly enacted Proposition 13 in response to out-of-control property taxes. Even with the passage of time, Prop. 13 remains very popular among citizens of all political stripes. Nonetheless, many politicians and bureaucrats hate Prop. 13 because it prevents them from taking unlimited cash from the taxpaying public. In…

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Special and Complex Tax Rules for Investment Property By Pete Muffoletto

Investment rental property, whether houses, apartments, vacant land, commercial buildings, shopping centers or warehouses, offer big tax incentives for investors who understand the special but complex tax rules and regulations related to these investments. Real Estate Professionals The best breaks go to “real estate professionals,” defined as those who spend at least 750 hours per…

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