YOU ARE NOT GOING TO BELIEVE THIS!!!
Paul Levine
Commercial Realtor and Real Estate Advisor | Retired CPA with over 50 years of income tax experience that no other Commercial Realtor has, Income Tax Consultant and unmatched Creatively!
?I just spent about an hour and a half writing a page and a half for all of you, and I MADE A MISTAKE AND DELETED ALL OF IT!!! My sleep patterns are driving me crazy. Please bear with me. I am trying my very best to keep the postings up to date so you get the information you need close to every day and in an orderly fashion. You cannot believe how important it is for me to accomplish that, and I will!!
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Last week, I started to post an article about the requirements that make you a Real Estate professional.? The difference between a Real Estate Investor and a Real Estate Professional is HUGE!!!? As a Real Estate Professional, you can deduct all the losses created by Real Estate Transactions, and I said ALL, whereas you can only deduct $25,000 if you are a Real Estate Investor.? That is what I will call the first level.? Then, you have to deal with any other limitations that the rest of your income tax return dictates, and we will call that the second level.? I will repost that article tomorrow and Wednesday, as I did not post the whole article last week.
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The Internal Revenue Code has to be one of the most complicated documents ever created. There may be limitations to the deductions that you can take that have to go through not only one but two or three levels, and we are supposed to have this knowledge at our fingertips at a moment's notice. And that’s pretty hard, but I did it for over 50 years, and now I still retain enough information to do what I have to do in most cases.? I look up the things I am not 100% sure of.
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My name is Paul Levine, and I am a Commercial Realtor, a Real Estate Advisor, an Investment Advisor, an Income Tax Consultant, a Public Speaker, an Author, and a Residential Realtor of luxury homes in Southern California!!!? I was also a University Professor for 6 ? years.? I am also the Managing Member of LS PROPERTY PARTNERS LLC, and along with Fred Sams, we are looking to help you invest in real estate and WIN!!!??
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You can call me at (818) 298 – 4000 after 10 AM Pacific Time Monday through Friday and, yes, even on the weekends. You can also send an email to me at [email protected], and I will always try to answer you in a timely manner.
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We are here looking to help you invest in real estate and WIN!!!
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THE CLIENT COMES FIRST!!!
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THE CLIENT ALWAYS COMES FIRST!!!