What’s new this filing season, in the aftermath of COVID-19 and moratoriums? CPA Mike Grinnan is going to give us the scoop – and he’s also planning to cover some real estate tax fundamentals for the new investors who’ve joined KREIA recently.

Here's an outline of what Mike plans to cover:

Tax Updates

• The Consolidated Appropriations Act, 2021 signed 12/27/2020, and its benefit to taxpayers
      - Pandemic Relief
      - Stimulus
      - Extenders
• A brief description of the PPP program and how it helps — and how it does not
• A reminder that there will be no delaying of the filing date this year. Returns are due on April 15th.

Must-Know Tax Info for New Investors

You have decided to invest in real estate. Welcome to a new world of taxes! There are many special rules for real estate investors, and we are going to cover the basics for your first year in real estate investing:

• Choice of entity or choice of entities
• Bookkeeping
• Deducting rental losses
• Defining what passive losses are
• How to follow the special rules and tax treatment for real estate.
• Depreciation, repairs, and legally increasing depreciation deductions
• Filing 1099s
• IRA real estate investing and what you need to know
• Planning for changes 
• Discussion of whether taxes are going up or down in the future

And more! Plus, a Q&A session with Mike! Pick a CPA's brain!

Mike's main presentation starts at 7 p.m. But you'll want to log into the Zoom call early so that you won't miss: 

5 p.m. - 5:30 p.m. – New Member Orientation: Want to know what KREIA can do for you? Jordan Pohn and Stacey Duvall will fill you in.

5:30 p.m. – 6 p.m. – Early Meeting: Greg Shell will show you how to appeal the PVA's assessment of your rental property, possibly lowering the amount of property tax you have to pay.

6 p.m. - 7 p.m. – Announcements, Legislative Update with Michelle Rawn, Advertiser Pitches & Property Pitches

Register now for this meeting! It's free for active KREIA members and only $10 for non-members.