Bryan Haarlander, CTRS, EA, of Exton’s Keystone Financial Solutions, Advises Realtors How the 2017 TAX CUTS AND JOBS ACT Can Be Used to Reduce Their 2018 Income Taxes

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Real estate professionals can substantially reduce their tax liabilities by implementing the 20 per cent qualified business income deduction. The 2018 tax year is the first year that realtors, landlords and other real estate professionals can claim the 20% QBI deduction.

“Investors should always consult with their tax and legal advisors before investing in real estate as relying solely upon insurance for asset protection is often inadequate.”

Bryan Haarlander, an Enrolled Agent and Certified Tax Resolution Specialist with the Exton, PA accounting firm of Keystone Financial Solutions, Inc., was the guest speaker of the Suburban West REALTORS® Association’s January 30 educational seminar “2018 Tax Changes and Tax Issues Effecting REALTORS” held at the SWRA’s office in Malvern, PA.

Haarlander, who in addition to being a certified IRS tax resolution specialist and an Enrolled Agent, advises business owners and real estate professionals how best to implement tax strategies to minimize inocme taxes paid. In addition to speaking about the 20% QBI deduction, he spoke about types of legal entities, IRS audits of realtors, tax strategies for real estate investors, the home office deduction, the use of qualified associations as a tax planning tool, and why the use of LLCs should be considered whenever a person invests in real estate. Haarlander said “Investors should consult with both their tax and legal advisors before investing in real estate as relying solely upon insurance for asset protection is often inadequate.”

In his many years of advising real estate professionals, Haarlander has seen many realtors who mistakenly believe they can arbitrarily assign their commission income to an S Corporation they form. Since realtors hold their license in their personal name, the IRS does not allow them under the assignment of income doctrine to show their commission income being earned by another legal entity. Fortunately for PA realtors, the Real Estate Licensing and Registration Act enacted in 2009 allows real estate licensees to create “Qualified Associations” which allows realtors to report their commission income using another legal entity if the realtor’s broker agrees to the arrangement.

Haarlander, the author of “How to Resolve Your IRS Tax Debt Problems” as well as a book on how to start your own business, has been practicing in Exton for 18 years. His blogs http://www.taxexpertblog.com and http://www.stopmytaxproblems.com discuss pertinent tax and business issues.

Through the courtesy of the SWRA, Haarlander’s presentation can be found on YouTube. https://www.youtube.com/watch?v=C7FtsOCSkxE&feature=youtu.be

Bryan Haarlander, an Enrolled Agent and a Certified Tax Resolution Specialist, is a member of the American Society of Tax Problem Solvers (ASTPS), PA Society of Tax & Accounting Professionals (PSTAP), the National Society of Accountants (NSA) and the National Association of Tax Professionals (NATP).

Keystone Financial Solutions, Inc. specializes in providing innovative tax planning, tax preparation, and solving IRS tax problems. The company’s web site is https://www.keysolutions.us and its telephone number is (610) 594-2601.

For an informative interview, call Bryan Haarlander at (610) 594-2601.
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