The CPA Zone: Tax Strategies for Small Businesses

An analysis of the Bailey v. Commissioner case, in which the taxpayer did not meet the criteria to qualify as a Real Estate Professional, resulting in their STR hours not being recognized for REPS purposes.

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The CPA Zone podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.

An analysis of the recent case Warren v. Commissioner, where the taxpayer was unable to prove their status as a Real Estate Professional, resulting in a loss in tax court.

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The CPA Zone podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.

We’ll resume our discussion on the differences between dealer and investor status, highlighting an exception in Section 1237 of the Internal Revenue Code. This section allows for capital gains treatment on subdivided real estate sales if specific criteria are met. Additionally, we’ll answer some questions.

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The CPA Zone podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.

In this episode of "The CPA Zone," Ryan and real estate financing expert Tim Dineen of Keystone Funding discuss current lending trends, creative financing strategies, key loan options like DSCR and bank statement loans, and how tax strategies impact real estate investment loans in today’s market.

Get in touch with Tim:

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The CPA Zone podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.

Are you classified as a real estate dealer or investor? Does it make a difference? Today, we’ll explore the distinctions between a dealer and an investor, along with the tax implications of each classification. Ryan will also review the Winthrop factors that assist taxpayers in determining their status as a dealer or investor.

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The CPA Zone podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.

Ryan discusses the findings from the court case Agarwal v. Commission T.C. Summary Opinion 2009-29, which ruled that real estate agents are considered to be in the brokerage real property business for the purposes of REPS eligibility.

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The CPA Zone podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.

In today’s discussion, we’ll cover the treatment of suspended passive losses when you sell your rental property.

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The CPA Zone podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.

In this podcast, Ryan speaks with Jordan McGregor, founder of PropertyCast.io, about the impact of financial literacy and objective analysis on real estate investing, and how leveraging software like PropertyCast.io can enhance deal evaluation, ensure accuracy, and create professional reports for more confident investment decisions.

Get in touch with Jordan:

Facebook: https://www.facebook.com/mcgregor45/

Instagram: https://www.instagram.com/officialjordanmcgregor/

TikTok: https://www.tiktok.com/@officialjordanmcgregor

LinkedIn: https://ca.linkedin.com/in/jordan-mcgregor-70735b19

Website: https://www.propertycast.io/

Would you like to become a client? Complete one of our client intake forms here:

https://www.thepulicegroup.com/contact

Free e-Book Download

The CPA Zone podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.

Ryan takes another look at the Corporate Transparency Act and how it affects most small businesses. Discover what you need to do.

NOTE - after this episode was recorded and shortly before release a Federal District Court issued and order prohibiting enforcement of the Corporate Transparency Act.  The ultimate outcome is still unknown. 

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The CPA Zone podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.

In this episode, Ryan and Zach Wesolick, co-founder of ProCapitist Properties, discuss how having a strong network is key to unlocking opportunities and achieving sustained success in the world of real estate.

Get in touch with Zack: 

Facebook: https://www.facebook.com/zwessolleck?mibextid=LQQJ4d

Instagram: https://www.instagram.com/zachwessolleck_realtor/?igsh=MWN2bzBnanR4YmY3cQ%3D%3D

Meetup: https://www.meetup.com/grid-woodbridge/

Would you like to become a client? Complete one of our client intake forms here:

https://www.thepulicegroup.com/contact

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The CPA Zone podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.