Bob Jablonsky's (bob_jablonsky) Blog

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Education & Training - Bob Jablonsky & Associates
RECENT BLOG POSTS
Many taxpayers who owe the IRS believe that they will owe the government forever.  However, that’s not true.  The IRS only has 10 years to collect a tax debt once the tax is assessed, assuming that there are no actions taken by the taxpayer to stop collections.  It is also known as the Collection...
07/19/2021
As a Real Estate Professional, did you realize that you are required to complete a Tax Form  that is the form most audited by the IRS?  That’s right, as independent contractors, most Real Estate Agents file a Form Schedule C.  The IRS has found that Schedule C’s contain a large number of errors c...
07/06/2021
When a Taxpayer owes the IRS, one of IRS's most powerful tools is the Notice of Federal Tax Lien (NFTL).  In this article, we’ll discuss some actions you as a taxpayer can take if the IRS is threatening you with an NFTL.  Six Options for a Taxpayer under Threat of an IRS LienHere are a six option...
06/21/2021
As a Tax Professional, your Tax Professional should be able to provide advice on deductions that are available to Real Estate Agents and Brokers.  However, they don’t know what is going on daily in your business and what deductions you are entitled to.  Unless you are able to properly track their...
06/07/2021
Every year, millions of taxpayers don’t file their Federal income tax return on time even though its rarely a good idea.  Why does that happen and what are the consequences of not filing a tax return? Why don’t Taxpayers file timely?There are a number of reasons that taxpayers don’t file their ta...
05/17/2021
Most real estate sales involve the selling of personal residences.  The question of whether the profit on the sale is taxable often not only comes up to me as a tax professional, but I also find that Realtors get that question as well from potential sellers.  Today, we’ll touch on the general rul...
05/01/2021
The IRS has recently began sending out a barrage of CP504 Notices to Taxpayers with tax debt.  It is typically sent by Certified Mail and states Notice of Intent to seize (levy) your property or rights to property.  It’s an important notice for several reasons that I’ll outline below:  The IRS ha...
04/19/2021
As Self-Employed Independent Contractors, Real Estate Agents may need help in running their business and sometimes it makes sense to hire family.  Today, we’ll cover a few areas where it might be helpful to hire your children as well as adult family members to provide services to the business.   ...
04/05/2021
A question that comes up from my Realtor clients along with many other small business owners is can I deduct my Home Office costs.  This has become even more of an issue due to COVID as more and more of us work out of our homes.  Today we’ll touch on when you can deduct your Home Office and what ...
03/22/2021
While today’s blog is primarily directed to new Real Estate Agents, it may be helpful to experienced ones as well.  We’re going to give a few quick tax tips to New Realtors. Taxation for New Real Estate Agents can be very confusing.  Many new agents come from an environment where they received a ...
03/22/2021
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