by Leif Jensen | Sep 16, 2024 | General |
Normally, the passive loss rules bar deducting rental real estate losses. But there are two exceptions. The first is for real estate professionals who spend more than 50% of their working hours and over 750 hours each year materially participating in real estate as...
by Leif Jensen | Sep 11, 2024 | Taxes |
Normally, the passive loss rules bar deducting rental real estate losses. But there are two exceptions. The first is for real estate professionals who spend more than 50% of their working hours and over 750 hours each year materially participating in real estate as...
by Leif Jensen | Sep 9, 2024 | Taxes |
The income tax burden on high-incomers rose for 2021, per IRS statistics. The top 1% of individual filers paid 45.78% of all U.S. federal income taxes… up from 2020’s figure of 42.31%. They reported 26.3% of total adjusted gross income. Filers needed AGIs of at least...
by Leif Jensen | Sep 4, 2024 | Taxes |
Most individual tax provisions in the 2017 tax reform law expire after 2025. They include tax rates and bracket changes, higher standard deductions, repeal of personal exemptions, the $10,000 cap on deducting state and local taxes on Schedule A, and others that we...
by Leif Jensen | Aug 28, 2024 | Rant |
Classroom discussions, for students ages 12-18, cover various asset classes, risk versus reward and the power of compounding. Often, these areas are left out of traditional curriculums because they are considered nonacademic. However, these ideas overlap with the same...
