Published on the Cover of The EA Journal

Tax Implications of Home Flipping: Dealer or Investor?
By Keith A. Espinoza, EA

This article discusses the tax implications for and proper tax treatment of small-volume house flippers. Each taxpayer's situation is unique and depends on "facts and circumstances". Recent court cases are examined.

Code Section 1341 to the Rescue!
By Keith A. Espinoza, EA

This article examines what a "claim of right" is, when these payments are deductible, and an alternate way to decrease your tax even without deducting these payments.

Limited Partners and Self-Employment Tax
By Keith A. Espinoza, EA

This article discusses the treatment of self-employment tax for partners and the exceptions in the Internal Revenue Code (IRC) for limited partners. Court cases and Treasury Regulations are examined to furthur drill down on what defines a "limited partner". Lastly, the author examines the large variations that can result on a tax return when a misclassification of a limited partner occurs. The results are not always as they would seem.