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Diane Kennedy's US Tax Aid

The Real Estate Professional vs IRS

real-estate-professional-vs-irsThe hottest tax topic is still the real estate professional tax deduction versus the IRS. Let’s start off with what that is and why it’s important. You may have heard that the three benefits of real estate investing over any other type of investing are:

  1. Cash flow,
  2. Possibility of appreciation, and
  3. Tax breaks.
Unfortunately, if you buy too high or in a market with high prices and relatively lower rents, you won’t have positive cash flow. This was especially true in some of the really overheated markets like southern California in the pre-2007 crash years. So,...

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