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Tax Law (Questions About Taxes)/Real Estate License tax deductions
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Mike wrote at 2007-07-30 05:12:22
Having losses for three consecutive years is not going to automatically cause the IRS to disallow your activity as a hobby - or audit you for that matter. It merely weights against the presumption that the business is being operated for a profit. This is a "facts and circumstances" evaluation.
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Answers by Expert:
- Rod Dorothy
- Helen P. O`Planick, EA
- Carole Dunton
- Randall Brody, EA, MBA
- Mike Wellman
- Richard Fritzler
- Vanessa D. Powell, CPA
- MEdusa
- Glenn D Schnabel
- IJ Zemelman, EA MBA
- John L. Tidwell
- John Stancil, CPA
- Neil Johnson (The Tax DudeŽ)
- Adam Shay
- Edward L Parsons CPA
- Bruce W. Tyler, EA
- Chea Romine, CPA
- ABRAHAM ITANI, CPA
- WILLIAM D MCCONNAUGHY, CPA
- Jay Allen Finn, CPA
- Mark Trazo, CPA Candidate
- Randall Klein, MBA, EA
Gerard L. Samoleski, CPA*
Expertise
Individual Income Tax, Business Income Tax, Partnership Income Tax, Estate Tax, Gift Tax, Tax Planning, Business Valuation, Divorce Tax. I can't answer legal questions as I am not an attorney.
Experience
10 years of Federal and State tax preparation for high-net worth individuals, including a major international accounting firm.
Organizations
AICPA, FICPA, NACVA
Education/Credentials
Bachelor of Business Administration (Accounting Major)- University of Miami (FL);Master of Science of Taxation, University of Miami (FL)
Awards and Honors
Certified Public Accountant*, Certified Valuation Analyst, Accredited in Business Valuations. *Regulated by State of Florida
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