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Newsfeed: Real Estate Professionals Must Put in the Time

Newsfeed: Real Estate Professionals Must Put in the Time

The tax limits generally deductions for passive activity losses (PALs) from real estate unless you can qualify as a real estate professional. To measure up, you must be able to prove that you spent enough time on your real estate activities. In a new case, Sezonov, TC Memo 2022-40, 4/20/22, the taxpayer came up short, even with the Tax Court giving him the benefit of the doubt.

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Newsfeed: Fed to Inflict More Pain on Economy as It Readies Big Rate Hike

Newsfeed: Fed to Inflict More Pain on Economy as It Readies Big Rate Hike

The Federal Reserve will probably have to inflict much more pain on the economy to get inflation under control. Growth is already slowing in response to the Fed’s repeated interest rate increases, with the housing market softening, technology companies curbing hiring and unemployment claims edging up.

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