Real Estate – Bregante+Company LLP

2025 Real Estate & Construction Predictions: What’s Ahead?

As proud members of BDO USA Alliance, we’re pleased to provide this comprehensive resource to help businesses navigate the year ahead with confidence.

BDO’s 2025 Real Estate and Construction Predictions

Across industries, the last year has been challenging for U.S. companies. Uncertainty around the election, steep inflation, and high interest rates have introduced instability and financial pressures that have taken their toll on the business landscape.

As 2025 nears, things appear to be changing: Interest rate cuts are on the horizon, while the end of the election cycle may introduce greater market stability heading into the new year.

Forecasted market stability doesn’t mean the new year will be without its challenges. A new administration and shifting market pressures mean real estate and construction leaders must act now to take advantage of new opportunities and […]

By BCo Author|February 20th, 2025|Categories: BCo Community News, Business Operations, Real Estate|Comments Off

2018 – 2019 Tax Planning Guide

With the end of the year rapidly approaching, we are once again reaching out to share our annual Tax Planning Guide with you. The 2018/2019 Tax Planning Guide is available here www.webtaxguide.net/Bregante.

The Tax Cuts and Jobs Act (TCJA), passed in December 2017, included sweeping tax law changes that will impact individuals and businesses including:

Small decreases in most individual income tax rates, elimination of personal exemptions but increased standard deductions depending on filing status, higher exemptions for alternative minimum tax (AMT) which should significantly decrease the number of individuals subject to AMT, increase in the child tax credit and special federal tax breaks for income individuals receive from pass-through entities such as partnerships, limited liability companies and S corporations.
Elimination of or limitations to several personal tax breaks […]

By Jeff Belingheri|December 6th, 2018|Categories: Announcements, Business Tax, Individual Tax, Nonprofit Organizations, Real Estate|Comments Off

IRS Clarifies Rules Regarding When Rental Property Activity Should be Reported as a Schedule Business

According to the IRS, not all rental property activity should be reported on Schedule E. If the property owner provides “substantial services” to short-term renters, the IRS says that the rental activity should be reported on Schedule C, and that the property owner must pay self-employment taxes on the income. If there is a loss, it can be fully deducted without regard for the passive loss limitation rules. Substantial services are defined by the IRS as: regular cleaning, changing linens, or maid services…furnishing of utilities or cleaning of public areas do not count as substantial services. For example, if you rent out a room in your house on Airbnb to short-term renters, the “substantial service” requirement can be satisfied if you are cleaning and changing linens after each short-term […]

By Bailey Andersen|September 15th, 2018|Categories: Business Tax, Individual Tax, IRS, Real Estate|Comments Off

California Supreme Court Ruling Significantly Limits Independent Contractor Classification

The California Supreme Court has established new criteria for classifying workers as Independent contractors. In Dynamex Operations West, Inc. v. Superior Court, the Court rejected the previous multi-factor test and instead issued a rigid 3-factor test, called the “ABC” test.

Under the ABC test, each of the following three factors must be met in order to classify a worker as an independent contractor:

The worker must be free from the control and direction of the hiring company in performing the work.
The work must take place outside the usual course of the business of the hiring company’s business.
The worker is customarily engaged in an independent established trade, occupation or business.

This ruling will no doubt have a significant impact on gig companies in the Bay Area (Uber, Lyft, and DoorDash, etc.), […]

By Mimi Lee|June 6th, 2018|Categories: Accounting & Bookkeeping, Announcements, Business Operations, Business Tax, Individual Tax, IRS, Real Estate, Retirement Planning|Comments Off

Home Equity Loan Interest can still be Deducted (in certain instances)

The IRS clarified in its News Release on February 21, 2018 that taxpayers can continue to deduct the interest on home equity loans, if the home equity loans are used to buy, build or substantially improve the taxpayer’s home that secures the loan.

Under prior tax law (pre-2018), the interest on a home equity loan secured by the taxpayer’s qualified residence was deductible (on a loan balance of up to $100,000) even if the loan was used to pay personal living expenses, i.e., paying off credit card debts, student loans or buying a car.

Starting in 2018, the new tax law does not allow taxpayers to deduct the interest on a home equity loan if the loan was used for personal living expenses.

In order for home equity loan interest to be deductible, […]

By Mimi Lee|February 25th, 2018|Categories: Individual Tax, IRS, Real Estate|Comments Off