Rental Income Tax Services
We're here to simplify your rental property tax matters. Our firm can help you with maximizing benefits while maintaining compliance with the latest tax laws and regulations. Our tax-saving strategies are developed for rental property owners and investors. Here's what we have to offer:
Profit Statement Review
Our experience with rental properties gives us insight into expenses often overlooked. We will review the expenses associated with your rental property to ensure that no tax deduction is missed.
Property Purchases and Sales
Buying and selling properties has tax implications. We focus on minimizing tax liabilities like depreciation recapture and capital gains, this, in turn frees up capital for other investments.
Depreciation Expertise
Depreciation is a crucial tax planning opportunity for every property investor. Our professionals can explore deprecation strategies such as cost segregation, giving you more agency in timing your expenses and enhancing your tax benefits.
199A Qualified Business Income Deduction
The Section 199A Deduction can unlock significant reductions to your taxable income. Our team can evaluate your rental operations to determine if you qualify for this complex deduction.
1031 Like-Kind Exchanges
Deferring capital gains tax through a 1031 exchange is a complicated and time sensitive matter. Our advisory services are available to make sure that you meet all timelines and legal requirements.
Navigating Passive Loss Regulations
Passive activity rules can limit your losses. Our firm's expertise allows us to offer comprehensive guidance to leverage key exceptions. This expertise is especially advantageous for clients who meet certain criteria of real estate professionals.
Tax Strategies for Real Estate Professionals
Our team offers strategic planning to real estate professionals who are qualified to use their rental losses against other income.
Advice on Current Tax Legislation
We can provide you with proactive advice, ensuring you are aware of tax law changes and leveraging the most current tax-saving strategies.
State Tax Expertise
Whether your property is in California or any of the other states, our tax advisors are licensed and ready to assist. We determine which state you have a filing requirement in and ensure you pay the correct amount of tax to each state.
Representation Before IRS and State Authorities
Our enrolled agents are licensed to represent and defend you in any IRS audit or dispute, bringing expertise and negotiation skills to the table for any rental property-related issues.
Do you offer free initial consultations?
Yes! We are here to help with all your tax questions, and we offer free initial consultation by email, phone or in person. Our office is in Orange County, California. If you have any questions, feel free to contact us.
Are you licensed by the IRS?
Yes. Milan Mraz is an Enrolled Agent, licensed by the IRS with unlimited practice rights. Enrolled Agents usually help with your tax planning, prepare, sign, and file your tax returns, offer tax advice, and may represent you before the IRS.
Can you prepare a tax return for my small business?
Yes. We help businesses meet all their tax needs year-round. Whether you are self-employed or own a business with multiple employees, Mraz Tax Solutions can handle your business tax return preparation.
Can my tax return preparer review my self-prepared returns?
Yes. We review Federal and State returns self-prepared or by others. We will advise you of missed deductions or audit risks, as well as prepare corrected or amended returns.
Why file your taxes with Mraz Tax Solutions?
We specialize in individual and small business tax returns. Whether you're an employee filing a W-2, a contractor taking part in the sharing economy filing a 1099 or a small business owner, we are here to help. We understand the importance of minimizing your tax and getting you the maximum refund you are legally entitled to. In order to do this and to prepare a complete and accurate return we take the time to get to know you and your goals.