TaxAudit Blog

How do I write off solar panels for rental properties when I claim as a real state professional to run a rental business?

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Rentals are considered to be special passive activities and the amount of loss you can use in any year is limited to $25,000, if your AGI is under $100,000.

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Can you claim a depreciation deduction for Section 1250 residential property in the year the property is sold? When it comes to taxes, details matter.

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Details regarding the disposition of grouping of activities in order to more easily satisfy the material participation requirements for the RE Pro status.

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Whether you use your second home for personal or business purposes, the interest you pay on the mortgage may very well be deductible on your tax return.

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HOA fees are not deductible for a property used as your private home all year. But there may be a deduction for those who use their home for business purposes.

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Is investing in real property, particularly rental property, a good idea for your retirement investments, especially your traditional IRA or Roth IRA?

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Electing to group properties together into one activity to qualify for real estate professional status comes with some disadvantages. Let's explore more.

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Yes, you can deduct a portion of your home rent for your home office on taxes – but as always , this benefit is only available if certain conditions are met.

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If your rental property is incurring losses, those losses may be limited on your taxes based on other income you receive. Let's explore more.

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There are many options for managing your small business tax debt. A tax resolution specialist from TaxAudit can guide you in choosing the best approach.

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Yes, the length of time the IRS is allowed to collect a tax debt is generally limited to 10 years. Is waiting out this period a strategy for resolving tax debt?

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When you can't make your tax due payment without impacting your ability to pay for living expenses, the IRS can put you in Currently Not Collectible status.

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If you are buckling under the weight of an IRS wage garnishment, it is time to get yourself free! We have seven practical ways to stop an IRS wage garnishment.

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CNC status is for taxpayers who cannot make any tax debt payments without seriously jeopardizing their ability to pay for their basic living expenses.

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Millions of individuals and business owners in America currently have unpaid IRS tax liabilities. Here are a few items to consider for tax debt relief options.

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