QBI Deduction on Rental Property | Qualified Business Income | Section 199A | TurboTax

Justin's 2024 Tax Return Preparation Class is Happening Now!
** January 15th 2025 through April 15, 2025 **

numbercrunchnerds.systeme.io/2024taxreturnprep

We are preparing 2024 tax returns and getting ready for tax planning in 2025 and the inevitable tax law changes coming our way under the new Trump Administration.

Watch the VIDEO FAQs on the 2024 Tax Return Preparation Class at the link below.

numbercrunchnerds.systeme.io/2024taxreturnprep

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00:00 QBI Safe Harbor
00:50 Did You Perform 250 Hours or More in Rental Services
01:30 Business vs Passive Investment
03:22 Other Criteria for the Qualified Business Income Safe Harbor
05:23 Getting QBI Without the Safe Harbor
06:30 Do You Have a Profit Motive
08:19 Have You Set Up an LLC to Hold The Rental Property
09:35 Do You Maintain Separate Books and Records
10:18 Do You Maintain Separate a Bank Account
11:16 Do You Perform Rental Activities Regularly and Continuously
12:57 Screening Tenants, Collecting Rent, Repairs and Maintenance

#taxreturn2024 #taxseason2024 #taxreturns