Monthly Archives: February 2025

The real estate professional tax status is a designation under U.S. tax law that allows qualifying individuals to treat rental real estate activities as non-passive for tax purposes. This status can provide significant tax benefits, such as the ability to fully deduct rental losses against other sources of income, which is generally restricted for non-real estate professionals. Requirements for…

Effective self-employment tax planning can help minimize your tax burden and keep you compliant with tax laws. Here’s a guide to help you manage self-employment taxes more efficiently: 1. Understand Your Tax Obligations Self-employment tax (15.3%): Includes Social Security (12.4%) and Medicare (2.9%). This tax is IN ADDITION to federal INCOME tax and often overlooked by…