The Internal Revenue Service is paying close attention to the definition of “Real Estate Professional” when it reviews tax returns. Under the IRS Code and Regulations, real estate professionals are defined as those who spend 750 hours or more annually handling real estate-related activities.
Real estate professionals with property investments cannot record more than $25,000 in […]
Entries from February 2008
IRS is Eyeing Real Estate Practitioners
February 22nd, 2008 · No Comments · Real Estate Stuff
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NAR Memberships Dropped
February 16th, 2008 · No Comments · Real Estate Stuff
National Association of Realtors (NAR) reports that its membership declined in 2007. The total realtor membership dropped from 1.358 million to 1.338 million, a 1.5% declined from its record year in 2006. Many part time agents in Arizona are putting their real estate license in inactive status or letting it expires, we lost two agents […]
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Property Management
February 4th, 2008 · No Comments · Property Management
Alright it’s official; we started our property management in our brokerage. We already have a client and rented his house on February 1st. We are finalizing the owner’s agreement this week and we’re planning to have 10 rentals by March. Service areas are Maricopa, Chandler, Ocotillo, Ahwatukee, and Tempe.
http://www.phoenixmetrorealty.com/propertymanagement.html
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