Monthly Archives: November 2013

Medical Expenses

Posted on November 21, 2013 by Lisa W. Hull

Taxpayers who itemize their deductions are able to deduct certain medical expenses, to the extent they exceed 10% of their adjusted gross income.  Medical expenses are deductible if they are paid for the taxpayer, the taxpayer’s spouse or the taxpayer’s … Continue reading →

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Peer Review for CPAs

Posted on November 12, 2013 by Lisa W. Hull

I recently went through my first peer review for my CPA practice.  I must confess, the preparation was a lot more stressful than I had anticipated.  Not as difficult as preparing for an IRS audit, but nonetheless, I wanted to … Continue reading →

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Rental Real Estate Exceptions to the Passive Activity Loss Limitations

Posted on November 6, 2013 by Lisa W. Hull

In general, rental activities are considered to be passive activities, which means losses incurred in rental activities are not deductible against active or portfolio income.  There are two exceptions to this general rule. Real Estate Professionals Real estate professionals who … Continue reading →

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