Lisa Marie Brugman, EAIRS penalties can add up fast — but many are avoidable or removable. This post breaks down the most common IRS penalties and explains when penalty abatement, including First Time Penalty Abatement, may apply.
Lisa Marie Brugman, EAWondering if you can deduct client gifts on your 2025 taxes? Learn what the IRS allows, what counts toward the $25 limit, which costs you can deduct fully, and how to stay audit-ready while still showing clients appreciation.
Lisa Marie Brugman, EAThis blog breaks down everything you need to know—from income limits and passive activity rules to the Real Estate Professional loophole. Whether you're a new landlord or a seasoned investor, you'll learn when losses are deductible, when they’re limited, and what to do if they’re not. Spoiler: it’s more complicated than you think—but there are strategies.
Lisa Marie Brugman, EAThinking of selling your home after renting part of it out? Don’t forget about depreciation recapture—the IRS will want back taxes on the deductions you claimed (up to 25%). Section 121 can shield big gains, but it won’t erase recapture. Plan smart, save more.