Hall CPA PLLC

Relocating for work. Upgrading to a bigger place. Holding onto a property during a slow market.

There are a lot of good reasons to turn your old home into a rental. But the tax picture that comes with it? That part deserves a real conversation before you make the move.

Our latest blog walks through what changes when your primary residence becomes a rental property. 👇

Converting Your Primary Residence to a Rental Property Learn the tax implications of converting your primary residence into a rental property, including depreciation, capital gains, and IRS rules.

Texas may not have a state income tax, but that does not mean real estate investors are off the hook when it comes to taxes.

High property taxes, depreciation recapture, passive activity loss rules, and capital gains taxes can all have a major impact on your investment returns if you are not planning ahead.

Many investors also overlook how short-term rental rules, LLC structures, and recordkeeping requirements can affect their tax situation over time.

Understanding these issues before buying your next property can help you avoid costly surprises and improve long-term profitability.

Read our full article for additional details and planning considerations.

Texas Real Estate Investing & Tax Strategy | Texas Tax | Hall CPA Learn the key tax considerations for Texas real estate investors, including property taxes, depreciation, deductions, capital gains, and more.

A recent court ruling could open the door for taxpayers to recover IRS interest and penalties paid during the COVID tax period.

If you paid IRS underpayment interest, late-filing penalties, late-payment penalties, or estimated tax penalties on a return originally due between January 20, 2020 and July 10, 2023, you may have a path to request a refund.

The key deadline is July 10, 2026. To preserve the right to a potential refund, taxpayers may need to file a protective refund claim with the IRS before that date.

Read the full article on our website for additional details and next steps.

Kwong v. United States | COVID Interest & Penalties Refund Recent court rulings may entitle taxpayers to refunds for IRS interest and penalties assessed during the COVID-19 disaster period.