2024 Real Estate Tax Laws and Rental Property Rules Part 2

(2 Credit Hours of Federal Tax Law)

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In our 2-hour course, 2024 Real Estate Tax Laws and Rental Property Rules Part 2: More Laws & Guidelines, tax preparers will not only gain a deeper understanding but also learn how to apply the complex laws and guidelines that affect their clients' rental & real estate properties in a practical and effective manner. 

What You'll Learn:

  • Discover the complexities of claiming the home office deduction, including the latest rules for square footage, qualification criteria, and proper recordkeeping.
  • Master the nuances of depreciation for rental properties, including bonus depreciation, recapture rules, and how to best utilize them for tax advantages.
  • Understand the requirements and benefits of qualifying as a real estate professional, a powerful strategy for maximizing tax deductions.
  • Gain a clear understanding of the tax court method and the IRS method for depreciation, allowing you to strategically choose the most beneficial option for each client.
  • Learn the ins and outs of using the HUD 1 form to report real estate purchases and sales for your clients accurately.
  • Explore the tax implications when a rental property is converted into a personal residence.
  • Gain insights into the long-term benefits of real estate ownership, empowering you to advise your clients with a holistic perspective. 

By the end of this webinar, you'll be equipped to:

  • Implement tax-saving strategies for clients who own rental properties.
  • Confidently navigate complex depreciation rules and deductions.
  • Advise clients on maximizing the benefits of real estate ownership.
  • Choose the optimal depreciation method for each client's specific situation.
  • Utilize the HUD 1 form for accurate real estate transaction reporting. 

This course counts for 2 hours of IRS CE under the category of Federal Tax Law Related Matters.

 About the Presenter

Doug Stives is considered a worldwide leader in public and management accounting by AICPA &CIMA. He is a CPA, MBA, and full-time professor of Accounting at Monmouth University and a professional speaker at many organizations and conferences. Doug was honored as Monmouth's Outstanding Business Professor of the Year in 2009 and 2016 and was awarded an Outstanding Educator award in 2021 by the New Jersey Society of CPAs.