Tax Strategies for Passive Activities (Completed)

Date: Tuesday, September 14, 2021
Instructor: Greg White
Begin Time:  9:00am Pacific Time
10:00am Mountain Time
11:00am Central Time
12:00pm Eastern Time
CPE Credit:  2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC

Join expert Greg White, CPA, as he walks you through the latest techniques for minimizing the impact of the passive activity rules. We’ll cover what it takes to be a “real estate professional” and whether your clients should make the election to “aggregate” rental properties. We’ll also cover “grouping strategies” – when to group, and when not to group! Additionally, we’ll look at different methods of satisfying the “material participation” rules, and what recent case law tells us about the how these rules work.

Who Should Attend
CPAs, EAs, tax staff and those who have some experience with tax preparation.

Topics Covered

  • Minimize the impact of the passive activity rules
  • What it takes to be a "real estate professional
  • Whether your clients should make the election to "aggregate" rental properties
  • "Grouping strategies" — when to group, and when not to group
  • Methods of satisfying the "material participation" rules
  • What recent case law tells us about the how these rules work

Learning Objectives

  • Identify when clients qualify as real estate professionals
  • Recognize the proper circumstances to aggregate rental properties
  • Describe the proper method to notify the IRS that your client is grouping activities
  • Identify and apply the seven methods of "materially participation"

Level
Basic

Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
None

Advance Preparation
None

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