Knowledge Base
Category - Rentals FAQs
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Expat and Expatriate KB
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- Are there exceptions to the bona fide residence or physical presence tests?
- Are there any downsides to claiming the foreign earned income exclusion?
- Are there automatic filing extensions for military personnel?
- As an ExPat, do I need to file a State tax return?
- Can I deduct mortgage interest paid on my foreign home?
- Do I have to pass the same test each year?
- Does voting through an absentee ballot mess up my bona fide foreign residency?
- How do fluctuating currency values affect my taxes?
- How do I handle my foreign rental property?
- How do I pay my taxes while living in foreign country without having a US bank account?
- How do partial years work with the foreign earned income exclusion?
- How do I qualify for the foreign earned income exclusion?
- How do moving expenses affect my exclusion?
- How do tax treaties affect my ExPat situation?
- How do I report my foreign bank accounts (FBAR)?
- How does the foreign housing exclusion or deduction work?
- If I don't qualify for the housing deduction, can I still deduct expenses?
- If I am a self-employed ExPat, what taxes am I responsible for?
- Is the Offshore Voluntary Disclosure Initiative (OVDI) still in full swing?
- May I deduct contributions to foreign charities?
- May I still make contributions to my IRA as an ExPat?
- What amount can I deduct for foreign earned income exclusion?
- What are the filing timelines for submitting my ExPat tax returns?
- What happens if my host country has a form of social security?
- What is foreign earned income exclusion?
- What is a tax home or abode, and how do they relate to each other?
- What is the bona fide residence test?
- What is considered foreign earned income?
- What is the physical presence test?
- What is the difference between foreign tax credit and deduction?
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Other Tax Information KB
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- Can I ignore an IRS notice or claim I never received it?
- How can I prepare for my face to face or interview field audit?
- How can I pay my taxes or my notice of deficiency?
- How do I appeal the collections of unpaid taxes?
- How does a joint return get handled during an audit?
- How should I respond to an IRS notice or letter?
- How much is interest and penalty on taxes owed?
- How does bankruptcy affect my unpaid taxes?
- What are my chances of being audited?
- What are some of the types of IRS notices and letters?
- What IRS publications deal with audits?
- What causes or triggers an IRS audit?
- What if I cannot pay my taxes?
- What can the IRS do if I don't pay my taxes- what is the collections process?
- What is the appeals process?
- What types of audits could I face?
- What is the period of limitations for an audit?
- Who can be with me at my IRS audit or conference?
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- Are there ways to earmark money for an individual?
- Do I need receipts for my donations?
- Does deducting charitable contributions cause an audit?
- How do I determine the value of my donation?
- What are some other charitable deductions?
- What are some of the donations I can deduct?
- What are the limits of my donations?
- Why give to charities?
- Who qualifies as a charity?
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- Are Educational Savings Accounts Worth It
- Are There Tax Breaks for Going to College
- Are There Tax Savings When My Employer Pays for My Education
- Can I deduct the cost of sports, games or hobbies while in college?
- IRAs and Savings Bonds To Help With Higher Education Costs
- What constitutes a full-time student for tax purposes?
- What College Expenses Can I Deduct From My Income
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- Are there automatic filing extensions for military personnel?
- Can I deduct my cell phone charges?
- Can I deduct internet expenses?
- Can I pay my taxes with a credit card?
- Can I deduct the purchase of my cell phone or tablet?
- If my employer provides a cell phone, is that income?
- Roth IRAs for High Income Earners
- Tax Brackets Misconceptions- Should I earn more money?
- What is the marriage penalty and how does it affect our tax returns?
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- Can I deduct the taxes associated with public improvements?
- Can I exclude the gain on my home sale?
- Can I deduct the loss on my primary residence?
- How does a Federal Disaster affect my casualty loss?
- My home was destroyed- what deduction can I take? How do casualty losses work?
- The Mortgage Forgiveness Debt Relief Act and Debt Cancellation
- What are the rules on a home office deduction?
- What is Cancellation of Debt? Is it taxable income?
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Small Business KB
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- Can I call my 1099 other income which avoids employment taxes?
- Can I deduct country club dues as a business expense?
- Can I deduct my cell phone charges?
- Can I deduct internet expenses?
- Can I pay my taxes with a credit card?
- Can I deduct the purchase of my cell phone or tablet?
- Hobby Versus Business Article
- Health Care Expenses, Premiums, HRAs, HSAs - Section 105
- How can I avoid or reduce Self-Employment (SE) taxes?
- I got a huge refund last year. Can I expect the same this year?
- I've never heard of WCG (formerly Watson CPA Group)- can I get references?
- If I am a self-employed ExPat, what taxes am I responsible for?
- If my employer provides a cell phone, is that income?
- LLCs and S-Corps
- Payroll Tables Gotchas
- Retirement Planning within an S-Corp
- S-Corp Hard Money Facts, Net Savings
- Turn Your Vacation Into a Tax Write Off
- What are tax issues with an LLC owning a rental property?
- What are the rules on a home office deduction?
- What do I do with a 1099-K?
- What business or corporate expenses can I deduct?
- What is the difference between a hobby and a business?
- What is the difference between an LLC, S-Corp and a C-Corp?
- Why can't I deduct health insurance premiums?
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- Behavioral Control
- Colorado's Criteria for Contractor Status
- Employee or Independent Contractor
- Employee or Independent Contractor Status
- Financial Control
- IRS Determination, Form SS-8
- Misclassified Workers Can File Social Security Tax Form
- Salespeople As Contractors
- Sample Response to CO Unemployment Claim
- Statutory Employee and NonEmployees
- Tax Court's Checklist
- Type of Relationship
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- 185 Reasons NOT to S-Corp, Downsides to S-Corp Election
- As a one-person show, should I still form an LLC? An S-Corp?
- Automobiles and LLCs, S Corps (superseded)
- Can I call my 1099 other income which avoids employment taxes?
- Determining the S-Corp Payroll Amount
- Estimated Tax Payments, Withholdings Issues for an S-Corp
- How do I convert my LLC to an S-Corp?
- How does an LLC or S-Corp's income affect my taxes?
- If the S-Corp taxation is what I ultimately want, should I form an LLC or C-Corp?
- Is there a way to avoid Self-Employment tax?
- Should I form an LLC with my spouse?
- Should I convert my LLC to an S-Corp (Sub-S Election)?
- The Money Trail for S-Corp Elections
- The S-Corp Grind, Operational Hassles
- The Zero Dollar Paycheck
- What are the operational hassles of an S-Corp LLC?
- What is an Accountable Plan?
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Archive
- Are there automatic filing extensions for military personnel?
- Can I deduct my cell phone?
- Can I deduct airport parking fees, tolls, crashpad expenses?
- Can I deduct my B737 type rating? Or my ATP rating?
- Can I deduct my internet charges as a flight crew expense?
- Can I deduct my laptop or iPad purchase?
- Can I pay my taxes with a credit card?
- Can I deduct my new hire training expenses?
- Can I deduct shoes, make-up, haircuts, etc.?
- Can I deduct the purchase of my cell phone or tablet?
- Can you just deduct the average expenses for flight crew on my tax return?
- Can I use my IRA to pay for medical bills without penalty?
- Can I take a per diem deduction for turns, locals or day trips?
- Converting Employees to Contractors Anti-Abuse
- Do I need receipts for my pilot or flight attendant expenses?
- Does it make sense to keep track of all my expenses as a pilot or flight attendant?
- Do you calculate my per diem expenses?
- How do I pay my taxes while living in foreign country without having a US bank account?
- How can I calculate my own per diem deduction?
- How do I report my foreign bank accounts (FBAR)?
- How does per diem affect your taxes?
- I didn't deduct my flight crew expenses before, what about my previous tax returns?
- How does per diem work?
- I have an LLC / small business / rental property. Can you prepare those taxes as well?
- I got a huge refund last year. Can I expect the same this year?
- I've never heard of WCG (formerly Watson CPA Group)- can I get references?
- I live in California but commute to Denver. Which state do I file taxes in?
- I know a guy who deducted all his cell phone, internet and cable charges. Why can't I?
- Is deducting per diem allowances really that important?
- Is the Offshore Voluntary Disclosure Initiative (OVDI) still in full swing?
- May I deduct contributions to foreign charities?
- Payroll Tables Gotchas
- Roth IRAs for High Income Earners
- Retirement Plan Requirements for Same-Sex Marriages
- Should I Consider a Roth Conversion
- Updated Tax Court Hearing on Flight Crew Expenses
- What are the filing timelines for submitting my ExPat tax returns?
- What are the 2012 limits for a traditional IRA contribution?
- What are the per diem rates for 2013?
- What does itemizing my deductions mean?
- What pilot or flight attendant expenses can I deduct?
- What mistakes can be made with per diem?
- Why should I use a tax preparer that specializes in flight crew taxes?
- Which method should I use? City By City or Standard Daily Rate?
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Rental Property KB
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- Are rental activities always passive activities?
- Are there downsides to the real estate professional designation?
- Are there specific material participation tests for real estate professionals?
- Do I need to group my rental activities together?
- How do I record the hours spent as a real estate professional?
- If I meet the 750-hour test, do I also meet the 500-hour material participation test?
- What activities count and don't count?
- What are some of the IRS tricks to deny my real estate professional designation?
- What are some of the tax court cases for real estate professionals?
- What are the general tests for material participation?
- What is active participation versus material participation?
- What is the definition of real estate professional?
- Why designate myself as a real estate professional?
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- Can I deduct my cell phone charges?
- Can I deduct internet expenses?
- Can I claim my residence as a rental, sell it for a loss and deduct the loss?
- Can I pay my taxes with a credit card?
- Can I deduct the taxes associated with public improvements?
- Can I deduct the purchase of my cell phone or tablet?
- Can I rent out half a duplex or a room in my house?
- Do rental properties offer good tax sheltering?
- Do I need receipts for my rental expenses?
- How are repairs and improvements different?
- How do I handle my foreign rental property?
- How do passive loss limitations affect me?
- If I don't have any rental income can I still claim a loss?
- I purchased a rental property last year. What closing costs can I deduct?
- If I move back into my rental, how does that work?
- If my employer provides a cell phone, is that income?
- Is depreciating my rental a good thing?
- My rental sale was a huge loss. What can I do?
- What are tax issues with an LLC owning a rental property?
- What are the rules on a home office deduction?
- What are the exceptions to rental activities?
- What is active participation versus material participation?
- What is considered rental income?
- What rental property expenses can I deduct?
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