Asset Protection Articles

For a real estate (RE) professional, the classification of rental income and losses from short-term rentals is not automatic. It depends on material participation. Even if you qualify as a real estate professional under the IRS…

The $25,000 passive loss exception is a tax rule that allows some taxpayers who actively participate in a rental real estate activity to deduct up to $25,000 of passive rental losses against non-passive (ordinary) income. This…

To qualify as a real estate professional for tax purposes, which can affect the treatment of rental real estate activities under the passive activity loss rules, a taxpayer must meet certain criteria set forth by the…

Grantor trusts (such as the Bridge Trust) are generally required to file Form 1041, U.S. Income Tax Return for Estates and Trusts, each year. However, there are alternative reporting methods for grantor trusts that can simplify…

In the simplest form, Asset Protection works by limiting or even removing access to the assets from the legal system, courts and potential creditors.  This can be done in two ways: The first approach is to…