The Basics of the Real Estate Professional Status - Part 1

Welcome to our deep dive into the Real Estate Professional Status, featuring Daniel Roccanti and Kyle Paxton. In this first installment of a three-part series, we provide a comprehensive overview of what Real Estate Professional Status entails and why it's crucial for anyone involved in rental real estate activities. Learn how qualifying as a real estate professional can shift your rental activities from passive to non-passive, allowing for significant tax advantages.
🔹 In This Video: Daniel and Kyle break down the basics of Real Estate Professional Status, including the benefits and the initial qualifications needed to potentially reduce your tax liabilities and optimize your investment strategy.
🔹 What You'll Learn:
*The definition and importance of Real Estate Professional Status
*How rental real estate activities are usually considered passive and the implications
*Criteria for qualifying as a Real Estate Professional
*The impact on your tax situation and potential benefits
Stay tuned for Parts 2 and 3, where we will delve into material participation rules, passive activity losses, and practical tips for navigating this complex area.
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#realestateprofessional #TaxAdvantages #RentalRealEstate #PassiveIncome #NonPassiveActivities #RealEstateInvesting #DanielRoccanti #KylePaxton
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