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Don’t lose out on rental real estate losses

If a person owns rental properties, there’s a good chance at least one of them will generate a loss during ownership.  But the passive activity loss (PAL) rules can make it difficult to deduct those losses.  If rental real estate is a significant activity, it pays to

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Personal use of employer provided cell phones generally nontaxable

Close to one year after cell phones were removed from the “listed property” category of Code Sec. 280F, IRS has explained the practical consequences of the change. In sum, where an employer provides employees with cell phones primarily for noncompensatory business reasons,

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