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Tax Fundamentals & Updates With Mike Grinnan

with... CPA J. Michael Grinnan CPA

Are you up-to-date with changes in the tax law? Are you brand-new to real estate and need to know what that means for your tax situation? CPA Mike Grinnan gets us up to speed at our February virtual main meeting.

Thursday, February 25, 2021 5:00 PM - 9:00 PM
Virtual ONLINE Event

Illustration by Nina Musgrave

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.

FREE for Members

Date:  Thursday, February 25, 2021
Time:  5:00 PM - 9:00 PM

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Kentuckiana Real Estate Investors Association

PO Box 91225
Louisville, KY 40291

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