Tax Relief for Realtors

It is very important for real estate professionals to act on tax problems like excessive tax debt, unfiled returns, back taxes, and self employment tax before these aggravate into expensive and potentially damaging problems. Tax problems the likes of those enumerated above can seriously hurt an individual or a company’s reputation and record, especially with the Internal Revenue Service or IRS. So before these tax problems turn to costly taxing nightmares, it is essential that you seek tax relief allotted for realtors, real estate professionals, mortgage brokers, and loan officers.

The real estate industry and the IRS

Tax problems are an inescapable reality present in any business area or industry, especially in wide fields such as real estate and real property. As defined by the IRS itself, real estate businesses include those that are involved in property acquisition, conversion, construction, development, management, rental, brokerage, and leasing. Following this definition, the term real estate professional can be used to refer to real estate agents, mortgage brokers, landlords, property managers, developers, contractors, and even loan officers. Individuals and firms that fall under these categories are allotted a number of benefits and financial privileges by the IRS. These include certain tax exemptions, tax deductions, and tax problem resolution packages.

Some examples of tax relief for real estate related, especially landlords, are deductibles from advertising costs, property depreciation values, cost of insurance premiums, and professional fees paid to attorneys in cases of eviction. The mortgage interest paid for investment property and from credit lines related to the business also makes up a huge chunk of tax deductibles that landlords, mortgage brokers, loan officers, and other real estate professionals can avail of. These types of tax relief are especially valuable when faced with tax problems, particularly excessive tax debts. You should consult a professional tax advocate to help you sort out how these mandated deductions can be utilized to resolve you of your tax problems.

Real estate in the current economy

The real estate industry is one of the hardest hit by the current crisis plaguing the US economy. House prices fell tremendously in the past two years, which were likewise defined by various mortgage problems. As a result, a lot of real estate professionals, particularly loan officers and mortgage brokers, faced more tax problems in the last two years than they have in existence. Back taxes, late and delinquent unfiled tax returns, and tax debts are a pressing problem in almost any real estate firm and even among self-employed Realtors.

The current administration’s plans to salvage the economy from its current dire state include several provisions to give tax relief for Realtors. These provisions and plans provide people in the real estate industry who are beleaguered by tax problems with more options for getting tax relief, especially for problems that were caused by factors beyond reasonable control of the people or firms involved.

Facing the problem

The IRS currently provides several options that offer tax relief for Realtors who deserve such relief. However, these options would not come knocking on your doorsteps, no matter how much you qualify for them. You need to act accordingly if you are to benefit from what the IRS currently offers the real estate industry. For one, you need to recognize what kind of tax problems you have on your hands. Straighten out your records to gauge how much tax you owe the IRS in terms of tax debt, unfiled returns, and back taxes. Knowing where you stand would give you good foundation from where to base your next move. In any case, that next move should involve a tax expert and preferably a professional tax advocate or enrolled agent. Having someone as knowledgeable in the tax arena as an enrolled agent working on your case would help you resolve your tax issues in no time.

Keywords: tax relief for real estate professionals, tax relief for Realtors, tax relief for loan officers, tax relief for mortgage brokers, tax relief for real estate brokers

Realtor tax relief and IRS tax problems resolution serving and representing real estate professionals and real estate brokers, loan officers tax relief and tax help for mortgage brokers in all of the following states, counties, and metro cities, Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Puerto Rico Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington D.C.. West Virginia Wisconsin Wyoming. AL AK AZ AR CA CO CT DE DC FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY New York, Los Angeles, Orange County, Riverside, San Bernardino, San Francisco, Ventura, Lancaster, Palmdale, Santa Barbara, Chicago, Washington D. C., Silicon Valley, Philadelphia, Boston, Detroit, Dallas, Houston, Atlanta, Miami, Seattle, Phoenix, Minneapolis, Cleveland, San Diego, St Louis, Denver, San Juan, Tampa, Pittsburgh, Portland, Cincinnati, Sacramento, Kansas City, Milwaukee, Orlando, Indianapolis, San Antonio, Norfolk & VB, Las Vegas, Columbus, Charlotte, New Orleans, Salt Lake City, Greensboro, Austin, Nashville, Providence, Raleigh, Hartford, Buffalo, Memphis, West Palm Beach, Jacksonville, Rochester, Grand Rapids, Reno, Oklahoma City, Louisville, Richmond, Greenville, Dayton, Fresno, Birmingham, Honolulu, Albany, Tucson, Tulsa, Tempe, Syracuse, Omaha, Albuquerque, Knoxville, El Paso, Bakersfield, Allentown, Harrisburg, Scranton, Toledo, Baton Rouge, Youngstown, Springfield, Sarasota, Little Rock, Orlando, McAllen, Stockton, Charleston, Wichita, Mobile, Columbia, Colorado Springs, Fort Wayne, Daytona Beach, Lakeland, Johnson City, Lexington, Augusta, Melbourne, Lancaster, Chattanooga, Des Moines, Kalamazoo, Lansing, Modesto, Fort Myers, Jackson, Boise, Billings, Madison, Spokane, Montgomery, and Pensacola

Client Reviews
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Mike has given us peace of mind! He helped negotiate down a large balance and get us on a payment plan that we can afford with no worries! The stress of dealing with the IRS is huge and Mike helped us through it all. The peace of mind is invaluable, thank you Mike!April S.
★★★★★
Mike Habib - Thank you for being so professional and honest and taking care of my brothers IRS situation. We are so relieved it is over and the offer in compromise process went just as you said. Mike is very professional and will give you honest answers to the OIC process and you can really trust him. You won't be sorry you chose him!Joe and Deborah V.
★★★★★
Mike is a true professional. He really came thru for me and my business. Dealing with the IRS is very scary. I'm a small business person who works hard and Mike helped me see that they are not that scary after all. He was always there with the answers I needed and was very good about calling me back which I appreciated since your first reaction is to freak out and ask a million questions. He solved a messy case and worked very hard to resolve it. His rates are VERY reasonable for the amount of work he does! I give him my highest recommendation!Marcie R.
★★★★★
Mike was incredibly responsive to my IRS issues. Once I decided to go with him (after interviewing numerous other tax professionals), he got on the phone with the IRS immediately (as in the same day I signed with him) to squash an impending issue. And he worked directly with them to quickly come to a resolution I am very happy with. I'd highly recommend reaching out to Mike to see if he can help you with any IRS issues. I'm very satisfied!Marshall W.
★★★★★
I’ve seen and heard plenty of commercials on TV and radio for businesses offering tax help. I did my research on many of them only to discover numerous complaints and unresolved tax issues. I found Mike Habib through my own online search and contacted him. He was very professional with great communication, always answering my questions and concerns. Mike resolved my complicated tax problem just as he said he would. I would definitely recommend his services to family and friends.Nancy & Sal V.

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