Question: My CPA said that if I didn’t have any business income this year, I couldn’t take a home-office deduction. Is that true?
Answer: Absolutely not. Even in a year with no income, claiming your home office deduction can provide valuable tax benefits.
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Why Your Business Loss Still Matters
If your business had no income, it might seem like deductions don’t matter—but that’s incorrect. Whether you:
Started a business late in the year, or
Had expenses exceeding income
You may have a tax loss that carries forward to future years. Under the 2025 tax law, these losses are called net operating losses (NOLs). Think of NOLs as a tax deduction savings account you can apply to future profitable years.
Bad Advice #1: Don’t File a Return
Skipping your tax return because you had no income is costly:
Filing documents to your NOL carryforward, reducing future tax liability.
Claiming all deductions, including home-office expenses, maximizes future savings.
Planning Tips for this year:
Always claim your business deductions—even in a loss year.
File your tax return to secure NOLs and carryover deductions.
Bad Advice #2: Skip the Home-Office Deduction
Your home-office deduction has two major benefits, even if you had it this year:
1. Convert Personal Miles to Business Miles
Without a home office, trips from home to clients or offices count as personal commuting—nondeductible.
Example:
22-mile round-trip to a client = personal miles
18-mile round-trip to a co-working office = personal miles
With a home office as your principal place of business, these trips become deductible business miles.
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2. Preserve Your Home-Office Deduction Carryover
Even if you don’t benefit this year, your home-office expenses carry forward under the 2025 law. Failing to claim the deduction now = no future-year benefit.
Tip: To qualify, report your home office as your principal place of business on your Schedule C.
Additional 2025 Tax Benefits
NOL Carryforward: Your business loss, including home-office expenses, may create a net operating loss that reduces taxes in future years.
Mileage Deduction: Trips from home to clients or second offices are now business miles, increasing deductible expenses.
Future Tax Savings: Deductions claimed during a loss year offset future business income.
Key Takeaways
Even without current-year business income, claiming your home-office deduction in 2025 ensures:
Deduction carryover to offset future profits
Business mileage instead of nondeductible commuting
NOL generation to reduce future tax liability
Bottom line: Never skip your home-office deduction or fail to file your return just because your business had no income. Doing so may cost you thousands in future tax savings.
Need guidance?Contact us to maximize your home-office deduction, NOL carryforwards, and other business tax strategies.
MEET ROBERT P. RUSSO, CPA PC
As the founder and principal of Russo CPA, P.C, Bob pleasantly surprises clients (plus the IRS and lawyers) with his proactive, caring, and interested approach. Bob’s authentic passion for both numbers and people is why his accounting firm is sought after by everyone from solopreneurs to CFOs. And it’s what energizes his fast-growing team of top CPAs who follow his lead by providing impeccable service to clients – without the CPA geek speak.
The only thing geeky about Bob is his favorite reading material: the latest tax regulations, codes, and rulings (so he can secure every possible tax advantage for his clients). You might mistake Bob for the charismatic entrepreneur and CFO behind an internet travel startup or a visionary real estate developer. That’s because he held those roles during his 30-year career as an accountant, which began at a high-profile accounting firm. While CPAs aren’t required to have “field” experience, the best ones do. But Bob doesn’t define success by his own achievements, it’s what he achieves for his clients. Because of his entrepreneurial past, Bob relates so well to his clients. In addition to serious tax savings most firms would miss, he empowers his clients with real-world accounting and financial insights to increase business.
Bob is even results-driven outside of work, whether it’s finishing the 2012 NYC Iron Man or volunteering for 12 years as President of a kids’ soccer league. While his bottom-line results are always impressive, what matters to Bob are the people who benefit from them.
When he’s not immersed in accounting, Bob is with his family, cooking up elaborate 18-course meals or globetrotting.
Robert P Russo CPA PC Certified Public Accountants 231 W. 29th Street (bet 7th & 8th Ave) Suite 500 New York, NY 10001 O: 212-279-9800 C: 917-207-9278 F:866-396-2310 www.robertprussocpa.com
https://www.realestateinvestormagazines.com/wp-content/uploads/2025/12/home-office.jpg4001000dulcehttp://www.realestateinvestormagazines.com/wp-content/uploads/2013/04/logo.pngdulce2025-12-03 03:59:342025-12-03 04:34:13No Income? You Can Still Claim a Home-Office Deduction
The private money lending industry offers significant growth and potential to succeed. Real property borrowers often seek financing alternatives outside of banks and institutional lenders. One such alternative is private money lending, a niche designed for non-bankable or non-traditional loan transactions —loans that do not meet the strict criteria of traditional banks, such as those with lower credit scores or unique property types.
Private money lenders are typically individuals or private entities, including companies or investment funds, that invest directly in loans. These lenders are not subject to the same regulatory constraints as banks, allowing for more flexible underwriting —such as considering the property’s value rather than the Borrower’s credit score —and faster funding—ideal for borrowers who don’t meet conventional lending criteria and need quick access to capital.
How Do Loan Agents and Lenders Find Private Money Opportunities?
Identifying potential borrowers who may need private money loans requires a combination of research, observation, and networking. Traditional methods include:
Reviewing public records from title companies to identify properties with low loan balances.
Monitoring building permits for additions or renovations, which may indicate a need for financing.
Tracking delinquent property taxes, which can signal financial distress.
Targeting first-time homebuyers, who may not qualify for conventional loans.
In the past, title companies provided databases listing loans with private beneficiaries—an indicator that a Borrower had previously used private money. However, due to privacy regulations, access to these lists has become limited.
Property and Borrower Profiles Likely to Need Private Money
Certain property types and Borrower situations are more likely to require private money financing:
Properties on loan default lists
Properties with delinquent property taxes
Properties that show visible signs of deferred maintenance
Properties owned by heirs or beneficiaries of deceased owners
Properties already encumbered by existing private money loans
While these indicators are useful, building a statistical model to predict private money loan needs remains challenging due to the variability of borrowers’ motivations and circumstances. It’s important to remember that this is a common challenge in the industry, and not a reflection of your abilities.
My Motto: “You Locate a Buyer; You Do Not Create a Buyer.”
The most effective way to find private money lenders is to cultivate a broad, diverse professional network. Focus on professionals who regularly interact with potential borrowers or investors:
Mortgage brokers (both private money specialists and conventional)
Residential and commercial real estate agents
Accountants, enrolled agents, and CPA firms
Estate planning, divorce, and probate attorneys
Financial planners and wealth advisors
Real estate and business litigation attorneys
Contractors, builders, and developers
Income property owners and speculative investors
Building and Leveraging Your Network
There are many ways to build a list of these professionals. Consider this: if you have 500 contacts in your network, and each of them has 500 contacts, your potential reach is 250,000 people.
To stay top of mind, consistently provide value to your network. Avoid generic newsletters or mass marketing. Instead, send personalized, authentic communications that demonstrate your expertise and help your contacts grow their own businesses.
The Power of Referrals
Referrals and repeat clients are the lifeblood of successful loan agents and business professionals. Those who master the art of networking and relationship-building often find themselves in the top 20% of producers, earning 80% of the income. The rest? They struggle to gain traction. By recognizing the value of referrals, you can appreciate the role your network plays in your success.
Approaching professionals for referrals is both an art and a strategy. Here’s a practical, relationship-driven approach tailored to your work in private money lending:
1. Start with Value, not a pitch
Before asking for anything, offer something of value. This could be:
A market insight or trend relevant to their industry
A helpful article or white paper you’ve written
An introduction to someone on your network who could help them
Example:
“Hi , I came across a recent update on property tax delinquencies in [County] and thought it might be useful for your clients. Let me know if you’d like a copy.”
2. Identify the Right Professionals
Focus on those who are already in touch with your target borrowers:
Mortgage brokers
Real estate agents
CPAs and enrolled agents
Estate planning and probate attorneys
Contractors and developers
Financial advisors
3. Use a Warm Introduction
If possible, get introduced through mutual contact. If not, reference a shared connection, event, or interest.
Example:
“I noticed we’re both connected to [Mutual Contact] and work with similar clients. I’d love to learn more about your business and explore ways we might help each other.”
4. Be Clear About What You Do
Professionals are more likely to refer clients if they understand your niche and how you can help.
Example:
“I specialize in private money loans for clients who don’t qualify for traditional financing—often due to credit issues, property condition, or timing constraints. I work quickly and transparently, and I’m always happy to be a resource for your clients.”
5. Ask for the Referral—Tactfully
Once rapport is established, make a straightforward but low-pressure ask.
Example:
“If you ever come across a client who needs fast, flexible financing and doesn’t fit the bank’s box, I’d appreciate the opportunity to help. I’m happy to jump on a call or meet in person to discuss how I work.”
6. Follow Up and Stay Top of Mind
Send occasional updates or success stories.
Celebrate their wins (e.g., “Congrats on the recent closing!”).
Always thank them for any referral, even if it doesn’t convert.
7. Be a Credible Expert
Demonstrate knowledge: Share insights on market trends, regulatory changes, or case studies that show your expertise.
Be transparent: Clearly explain your process, fees, and expectations. Professionals need to trust that you’ll treat their clients with integrity.
Show results: Share success stories or testimonials (with permission) that highlight how you’ve helped clients in challenging situations.
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8. Be Reliable and Responsive
Follow through: Do what you say you’ll do—on time, every time.
Communicate proactively: Keep your referral partners in the loop. Let them know when you’ve contacted their referral and how things are progressing.
Be available: Prompt responses build confidence. Even a quick “Got your message—will follow up shortly” goes a long way.
9. Make Them Look Good
Treat their referrals with respect and professionalism.
Avoid hard selling. Focus on solving problems, not pushing products.
If a referral isn’t a fit, refer them back or to someone else who can help. This shows integrity.
10. Educate and Empower
Offer to host a short lunch-and-learn or webinar for their team on private money lending.
Provide referral guides or FAQs they can share with clients.
Help them understand when a private money loan is appropriate—so they refer the right clients at the right time.
11. Give Before You Ask
Refer clients to them when appropriate.
Promote their services in your newsletter or social media.
Invite them to network events or industry mixers.
12. Stay in Touch—Genuinely
Send personalized updates, not mass emails.
Celebrate their wins (e.g., “Congrats on your new office!”).
Check in periodically without an agenda—to say hello or share something useful.
13. Be Patient and Consistent
Trust takes time. Some professionals may not refer right away, but if you stay visible and valuable, they’ll think of you when the right opportunity arises.
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Friends, don’t forget to register for our last event of the year. This is a great opportunity to learn the latest news, strategies and information. Join us to learn from new educators sharing new strategies. Plus, network with new companies joining us from throughout California and the nation.
Looking for advanced learning? Purchase a VIP ticket and receive our next magazine mailed to you, plus access to our VIP virtual events.
Realty411 in the NEWS: Read our editorial in Pasadena Now, one of the oldest online community news websites in the nation.
Since 2007, Realty411.com has assisted top companies expand their visibility and grow their business. Contact us for a complimentary marketing session with one of our team members. Book a meeting with a Realty411 team member: CLICK HERE.
https://www.realestateinvestormagazines.com/wp-content/uploads/2025/11/feature-Pasadena.jpg4001000dulcehttp://www.realestateinvestormagazines.com/wp-content/uploads/2013/04/logo.pngdulce2025-11-25 03:27:272025-12-11 02:04:07Realty411 to Host Free Expo in Pasadena on December 6th
Please review this webinar invitation from our sponsor, thank you.
Black Friday Property Showcase Webinar: Unlock Exclusive Investment Land Opportunities
This Black Friday, my friend and Expert Land Banker, Marcella Silva is pulling back the curtain on exclusive land investment opportunities that could transform your portfolio: and your financial future.
While everyone else is fighting over discounted electronics and crowded shopping malls, savvy investors will be getting in on the real deals that are happening in the land market. This Black Friday at 11 AM Pacific, you’ll discover why top investors are quietly shifting their focus from traditional real estate nightmares to the golden opportunity of strategic land investment
The clock is ticking, and these exclusive properties won’t wait for you to make up your mind.
This isn’t your typical investment presentation. Marcella will be showcasing strategic and undervalued properties that are currently available for investment: exclusive opportunities that won’t be available anywhere else. These carefully curated land parcels represent the cream of the crop, positioned in areas where significant growth is not just possible, but already underway and it’s speeding up!
Exclusive Property Reveals
During the live session, you’ll get first access to:
Incredible land parcels located amongst the largest land rush in history
Strategic positions near existing and planned projects and infrastructure
Undervalued opportunities in green energy markets
Portfolio-ready investments perfect for diversification
These properties have been handpicked based on over 46 years of experience, rigorous analysis of both macro and micro economics, and a strict due diligence process.They’re not just investments: they’re your entry point into tomorrow’s most valuable real estate and energy markets.
Land Banking is your path to stress-free wealth building.
Land banking isn’t just another investment strategy: it’s your ticket to financial freedom without the traditional real estate hassles. When you invest in strategically positioned land, you invest in the essential and limited asset that everyone and everything needs. This is an opportunity for phenomenal portfolio growth and returns.
Don’t Let This Opportunity Pass You By: Timing Matters More Than Ever
Their targeted land market is experiencing unprecedented momentum. With government mandates, rapidly growing emerging technologies, massive infrastructure investments, limited supply of land, and much more, it is a perfect storm of conditions for explosive land value appreciation. But here’s the reality: the window for getting in at ground-floor prices is closing fast. Don’t be caught saying, “I shoulda, woulda, coulda!”
The most successful investors share one common trait: they act decisively when presented with exceptional opportunities. They understand that hesitation is the enemy of wealth creation, and they refuse to let fear or analysis paralysis cost them life-changing returns.
This isn’t just about making money: it’s about creating lasting wealth that can transform your family’s future. Land has been the foundation of wealth creation for centuries, and strategic land banking allows you to participate in this time-tested wealth-building method with modern sophistication. It is the best gift you can give your family this holiday season!
Secure Your Spot Before It’s Too Late
Properties for this exclusive Black Friday webinar are limited, and registration is filling up fast. Once these exclusive opportunities are gone, they are gone for good.
Here’s what happens next:
Register immediately using the link below to secure your spot
Mark your calendar for Black Friday November 28, 2025 at 11 AM Pacific
Prepare to be present to hear about game-changing investment opportunities
Be ready to act on exclusive property access during the live session
The registration process takes less than one minute, but the knowledge and opportunities you’ll gain could impact your financial future for decades to come.
While others are focused on temporary discounts and consumer goods, you’ll be positioning yourself for lasting wealth creation. This webinar represents more than just an educational opportunity: it’s your invitation to join a select group of investors who understand that true wealth comes from strategic positioning, not lucky breaks.
Don’t spend another year wondering “what if.” Don’t let another opportunity slip away while you’re still considering your options. The time for hesitation is over: your moment to act is now.
Your future self will thank you for taking action today.
Since 2007, Realty411.com has assisted top companies expand their visibility and grow their business. Contact us for a complimentary marketing session. Investors, need a solid REI referral? Book a meeting with a Realty411 team member: CLICK HERE.
We hope you are having a blessed Sunday. We thank you for being a part of our Realty411 network where our mission is to provide life-changing REI knowledge. With this in mind, we would like to invite you to a new virtual educational session with Ken Letourneau, known as “The Tax Sale Master”.
Ken has spoken at our Realty411 events in California and we want to make sure our national network has access to his incredible knowledge. Investors, be sure to join his webinar to increase your knowledge about Tax Sales across the nation.
NEW CLASS: November 24, 2025 – 6 pm PT, 7 pm MT, 8 pm CT, 9 pm ET
For the past 15 years, Ken Letourneau, known as “The Tax Sale Master”, has specialized in the niche market of purchasing properties through local government tax sales, also known as tax sale investing. This strategy has attracted major Wall Street firms like BlackRock and JPMorgan Chase due to its lucrative potential.
With tax sale investing, you can earn returns of up to 25% on your money or even acquire properties for as little as $1,000.
Ken Letourneau is a seasoned real estate professional with over 25 years of experience in the industry. He has specialized in tax lien certificates and tax deed properties and is actively participating in tax sales auctions across the United States.
Ken’s expertise extends beyond his personal ventures. He now dedicates a significant portion of his time to educating others in the intricacies of tax sales auctions. Be sure to register for his free training.
Attend a Live Online Tax Auction Training With Ken Letourneau, The Tax Sale Master
6pm PT | 7pm MT | 8pm CT | 9pm ET
100% Online | FREE to Attend | Limited Seats
NEW CLASS: November 24, 2025 – 6 pm PT, 7 pm MT, 8 pm CT, 9 pm ET
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Realty411 Magazine, in Business Since 2007, to Release their Latest Issue. Top Local and National Real Estate Experts to Speak at this Event
Realty411 magazine, which provides real estate investors and professionals with unparalleled knowledge, will host a free expo in Pasadena on Saturday, December 6th.
Realty411 will unite local guests, readers and visiting educators to learn about the local, statewide, and national real estate markets and trends. Realty411’s “Invest with Confidence Summit” is being held on Saturday, December 6th at the Hyatt Place Pasadena, located in Old Town Pasadena. The venue’s address is 399 E Green St, Pasadena, CA 91101.
Doors open at 8:30 am and the expo begins at 9 AM. This captivating expo will focus on market trends, industry news, insight from real estate investors, real-life real estate stories, motivational speaking, networking sessions, real estate exhibitors, plus many resources.
If you have an interest in real estate and want to learn more about investing, be sure to reserve tickets today. This free event is open to the public and is of special interest to brokers/agents, private lenders, mortgage brokers, and other realty professionals.
As a bonus, parking for this event in Pasadena in only $18 for the entire day and evening.
Be sure to attend this one-day event featuring timely insight, top educators and exhibiting companies. Realty411’s event will take over the entire venue with multiple rooms inside and outside available to maximize networking.
For those wishing to elevate their experience, Realty411’s Summit will also feature VIP tickets with reserved seating and delicious food. Be sure to reserve tickets to this holiday educational event featuring raffles, giveaways, and joyous cheer.
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Virtual VIP “Dealmaker’s” Meeting Network with VIP Investors from Across the State & Nation…Online. VIPs Join Us for Our New VIRTUAL Meeting
Hello Realty411 Investors;
Thank you for being part of our network. In an effort to learn more about our supporting members: our VIP event guests and subscribers, we are inviting all VIP members to take part in our NEW virtual VIP meeting.
This interactive online session will allow us to help those with problems, questions, difficult deals, and more. If you have been a VIP event guest, are a current subscriber, sponsor, or VIP member, be sure to register for our Exclusive Virtual Meeting.
What We’ll Discuss:
* Listen & Learn from Real-Life Deals Gone Bad * Learn from Investment Mistakes & Triumphs * Our Investing Pro will Listen to Your Deals * Network Online with Other Sophisticated Investors * This in an Interactive Session for All VIPs * Mission – To Assist, Encourage, Educate
Sign up now and join us. In addition to access to this VIP member’s only virtual meeting, the latest Realty411 magazine will be mailed to you, CLICK HERE. Don’t miss out on our virtual VIP meetings where members learn, connect and discuss real estate transactions.
Paul Wilkins’ initial career objective was to be an educator. He earned both a BA (Magna Cum Laude) and a MA in History from the University of California, Los Angeles (UCLA). After spending two summers as an intern for a local commercial bank, his new interest in banking spurred him to earn a MBA from the Anderson School at UCLA.
After graduation, he entered the credit training program at Bank of America. Subsequent jobs provided additional experiences as an REO manager for a multi-billion dollar mortgage lender, regional portfolio manager for a major private mortgage insurer, and a stint as a Liquidation Specialist for the Federal Deposit Insurance Corporation (FDIC). He included his financial services tour of duty with two regional commercial banks, handling both commercial real estate work-outs and REOs.
Paul’s professional fun really began in 1996, when he joined National Consumers Finance Company, which later changed it’s name to Heir Buyout Company. Working on an average of over 50 probate cases per month, Paul has gained substantial knowledge of the probate process over the past 21 years. In 2010 he and his business partners founded what is now Approved Inheritance Cash, a national provider of credit during the probate process.
Paul hopes to see many Realty411 readers on this virtual meetup and is able to assist people with their probate questions.
By Trey Warren and Brooke Maloy Front Range Land & Development Company, developer of Belleview Station
If you saw the front page of the Denver Gazette a few days ago, you couldn’t help but notice Denver Nuggets’ mascot Rocky rappelling down the side of building to support the Cancer League of Colorado. The building was the Kimpton Claret Hotel and the location was Belleview Station.
So what’s Belleview Station you ask? It’s a 51-acre mixed-use development at the intersection of Belleview Avenue and I-25, and it’s booming!
As Downtown Denver businesses continue to flee the urban core, suburban locations are reaping the benefits of lower office vacancies, new retail and restaurant openings and renewed interest in hospitality and multifamily residential development. Smart tenants that used to office in B or C class space have taken the post-Covid office downturn as an opportunity to lock down right-sized A class space at once-in-a-lifetime rates. All of a sudden, folks are looking around and finding there isn’t much of the good stuff left.
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Belleview Station was officially launched in 2012 and today has three residential buildings totaling more than 900 units, three office buildings totaling more than 800,000 square feet of space and nearly 130,000 square feet of retail and restaurant space. The development team projects Belleview Station will have 3,300 residential units (both for lease and for sale), 2.8 million square feet of office space and 205,000 square feet of retail by the year 2036.
Most recently, construction started on two new apartment towers, adding 21-story and 22-story buildings to the community. The towers, being developed by PCP / Voyager, will provide an additional 634 residential units. Both towers will include rooftop pools, unencumbered views of the Front Range, and will be connected by a large parking garage that is wrapped with other units. The top of that parking garage will feature garden amenities like a sports court and dog run that residents of the towers will share.
Belleview Station has enjoyed steady success based on the team’s original vision, its location in the heart of southeast Denver and the popularity it has achieved among businesses, retailers, restaurants and people in general. The companies that have invested here or have chosen to move here are realizing tremendous gains, and the people who live and work here have achieved a healthy live-work balance. This is a place where people and businesses want to be.
Belleview Station, a Transit Oriented Development, revolves around its LRT station and has found a solid foothold in south Denver– and is reaping tangible results:
Existing office space is 99 percent leased, with buildings that are home to some of Denver’s largest corporate headquarters: Vectra Bank, Western Union, Newmont Mining, Others include, the international engineering firm Jacobs, Cerity Partners, Fortis Bank, Eide Bailey, Philips 66, and Pulte Mortgage.
Multifamily development includes residential projects owned by Equity Residential, Trammell Crow Residential and the two new towers by PCP / Voyager.
The opening of several new restaurants and retail shops, bringing the development to near 100 percent occupancy (some of the new retailers include Peckish Pizza and Wings, Halo, Saverina, Tifa Gelato, Pur Luxe Beauty Bar and Pur Artistry). The current restaurant and retail mix includes Playa Bowls, Crisp & Green Ambli, Belleview Beer Garden (BVBG), Corvus Coffee, Le French Bakery and Café, Los Chingones, Ruth’s Chris Steak House, Tap & Burger, Urban Egg, Yampa Sandwich Co., A Line Boutique, Barre3, Matthew Morris Salon, Movet, Porchlight Real Estate Group, Western Union, Charles Schwab, Belleview Dentist Office, First Tech Credit Union, The Nest Nail Spa, Orangetheory, Restorative Injectables, Waxing the City and YogaSix
The opening of a new, 190-room boutique Kimpton Hotel Claret that features a rooftop bar and music venue with a sweeping view of the front range and a ground floor high-end restaurant.
Belleview Station’s 51-acre footprint is the last of a larger parcel, much of which was originally acquired in the 1860’s and whittled down over generations. The original acreage, purchased on agriculture speculation, spent much of its early years farmed as winter wheat. The farm was divided and reduced in the 1950’s by Eisenhower’s interstate highway act and then again in the 70’s with the introduction of I-225. Smaller inefficient parcels were sold off over time for housing and parks, including a portion of the original Denver Technological Center (DTC), and the remainder converted to a golf course. TREX, the last major highway expansion and introduction of Light Rail beginning in 2000, reduced the golf course from 18 holes to 9, and foretold the eventual rezoning and current development.
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Getting Belleview Station to the point it is today took a great deal of work and planning. The development team created Metro Districts to provide water and sanitation services, an owner association to set and preserve the vision, a public improvement company to organize the parking, and delivered its first full scale development in 2012.
In addition to the foundational work, the development team focused a great deal on architecture and urban design. A 46-page design criteria document provides applicants who want to develop at Belleview Station with specific procedures to help ensure the continued quality and appeal of the development.
In addition to high quality design, the development team also emphasizes regular, proactive communication with tenants, residents and building owners. Monthly owner meetings are held to share ideas, concerns or just good news in general.
Today, after surpassing the ten-year mark in time, Belleview Station has much to celebrate and even more to look forward to in the years ahead.
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As this year comes to a close, business owners seeking to reduce their taxes for 2025 have a variety of opportunities. Here’s a look at two tax-saving tools: bonus depreciation and retirement plan contributions.
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Assets Eligible for Bonus Depreciation
First-year bonus depreciation has been given new life under the legislation commonly known as the “One Big Beautiful Bill Act” (OBBBA). It had been scheduled to be only 40% for 2025 (60% for certain long-production assets) and to vanish after 2026. The OBBBA permanently reinstates 100% bonus depreciation for eligible assets acquired and placed in service after January 19, 2025. Acquiring eligible assets and placing them in service by Dec. 31, 2025, could significantly reduce your 2025 tax liability.
Eligible assets include most depreciable personal property, such as:
Equipment,
Computer hardware and peripherals,
Certain vehicles, and
Commercially available software.
Also eligible is qualified improvement property (QIP), defined as improvements to the interior of a nonresidential building that was already placed in service. QIP doesn’t include costs to change the building’s internal structural framework (such as enlargement). These costs must generally be depreciated over 39 years.
Unlike Section 179 expensing, which is limited to $2.5 million for 2025 (up from $1.25 million before the OBBBA) and subject to a phaseout, the amount of bonus depreciation a taxpayer can claim is generally unlimited. But there are other tax consequences to consider.
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Beware of the Excess Business Loss Rule
Individual taxpayers who have losses as a sole proprietor or as an owner of a pass-through entity (partnerships, S corporations, and, generally, limited liability companies) may inadvertently trigger the excess business loss rule when they claim bonus depreciation. The excess business loss rule allows business losses to offset income from other sources (such as salary, self-employment income, interest, dividends, and capital gains) only up to an annual limit. Amounts above that limit are excess business losses. For 2025, this is the excess of aggregate business losses over $313,000 ($626,000 for married couples filing jointly).
Excess business losses can’t be deducted in the current year and must be carried forward to the following tax year. Such losses can then be deducted under the rules for net operation loss carryforwards. As a result, an individual taxpayer’s 100% first-year bonus depreciation deduction can effectively be limited by the excess business loss rule.
Save Taxes by Saving for Retirement
Tax-favored retirement plans can provide significant savings for small business owners, both by building retirement security and by reducing taxes. Contributions are tax-deductible (or pre-tax, if you’re contributing as an employee).
One of the simplest options is a Simplified Employee Pension (SEP) IRA. If you’re self-employed, you can contribute up to 20% of your net income to a SEP IRA, with a cap of $70,000 for the 2025 tax year. If your own corporation employs you, the contribution limit is 25% of your salary, also capped at $70,000. The tax savings can be substantial.
Other options include 401(k)s, SIMPLE IRAs, and defined benefit plans. Depending on your age and income, some of these options might allow you to make even larger contributions. Ask your tax advisor for details.
Wrapping it Up
The permanent restoration of 100% first-year bonus depreciation creates tax-saving opportunities for taxpayers while they expand their business potential. And a tax-favored retirement plan is beneficial for you, your business, and your employees. Every business is different, so it’s essential to consult a tax professional. Contact our office for help tailoring your tax strategies for 2025 and beyond.
MEET ROBERT P. RUSSO, CPA PC
As the founder and principal of Russo CPA, P.C, Bob pleasantly surprises clients (plus the IRS and lawyers) with his proactive, caring, and interested approach. Bob’s authentic passion for both numbers and people is why his accounting firm is sought after by everyone from solopreneurs to CFOs. And it’s what energizes his fast-growing team of top CPAs who follow his lead by providing impeccable service to clients – without the CPA geek speak.
The only thing geeky about Bob is his favorite reading material: the latest tax regulations, codes, and rulings (so he can secure every possible tax advantage for his clients). You might mistake Bob for the charismatic entrepreneur and CFO behind an internet travel startup or a visionary real estate developer. That’s because he held those roles during his 30-year career as an accountant, which began at a high-profile accounting firm. While CPAs aren’t required to have “field” experience, the best ones do. But Bob doesn’t define success by his own achievements, it’s what he achieves for his clients. Because of his entrepreneurial past, Bob relates so well to his clients. In addition to serious tax savings most firms would miss, he empowers his clients with real-world accounting and financial insights to increase business.
Bob is even results-driven outside of work, whether it’s finishing the 2012 NYC Iron Man or volunteering for 12 years as President of a kids’ soccer league. While his bottom-line results are always impressive, what matters to Bob are the people who benefit from them.
When he’s not immersed in accounting, Bob is with his family, cooking up elaborate 18-course meals or globetrotting.
Robert P Russo CPA PC Certified Public Accountants 231 W. 29th Street (bet 7th & 8th Ave) Suite 500 New York, NY 10001 O: 212-279-9800 C: 917-207-9278 F:866-396-2310 www.robertprussocpa.com
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“If you always do what you’ve always done, you’ll always get what you’ve always got.” – Henry Ford
The only constant in life is change. Today’s sluggish housing market offers us all both chaos and opportunity, whether you are an investor, first-time home buyer, seller, real estate agent, or mortgage broker.
There’s an old saying that is very true: Everything that you’ve ever wanted is on the other side of fear. For many people, they may read negative data trends, freeze up, and refuse to make any changes to their marketing strategies as a seller, buyer, or real estate or financial professional.
The key is to review as many positive, neutral, and negative data trends, while staying focused on the potential opportunities and solutions rather than getting seemingly hypnotized or frozen by the temporary obstacles standing in your way.
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Declining Housing Sales Turnover Rate
Today’s U.S. housing market has the lowest sales turnover rate in at least 30 years, as per sources like Redfin and The Kobeissi Letter. Only 28 homes out of every 1,000 homes, or 2.8%, changed hands by way of sales in the first nine months of 2025.
The housing market is frozen with a much lower sales volume here in 2025, partly due to a mortgage rate lock-in effect, where nearly 70% of all homeowners currently hold mortgages with rates near 5% or below. I’ve written about the “lock-in effect” over the past few years in articles like this one that was published in July 2023: The Lock-In Effect and Keys to Success.
Even though the average 30-year fixed rate fell to a one-year low near the low 6% rate range by the end of October 2025, median home prices in many U.S. regions are near or at all-time record highs. As a result, fewer home buyers can afford to purchase their dream home because they can’t afford the mortgage payment along with other consumer debts.
Pending Home Sales Aren’t Improving
Pending home sales, which track the number of home sales contracts signed, didn’t change much in September 2025 as compared with the previous month of August.
This is now the third year in a row that pending home sales have remained near record lows as per data shared by the National Association of Realtors, dating back to July 2010.
As of August 2025, the national buyer fallout rate surpassed 15% as nearly 1-in-7 home-purchase agreements were canceled, as per a Redfin study. This was the highest cancellation rate for the month of August in Redfin’s records, which date back to 2017.
Some key factors for the rising buyer fallout rates include the combination of record high unaffordability rates for many buyers along with record high average mortgage payments and credit card debt, student loan balances, home insurance costs, and automobile loans at or near all-time record highs on the buyer’s side.
However, many sellers still think that their homes should sell for record high prices, while also refusing to offer any concessions like credits for home repairs or closing costs.
According to another study published by Redfin that included a survey of 443 Redfin agents that was conducted in September 2025, here were the most common reasons for buyers or sellers backing out of their signed home purchase contracts and the percentage of contracts that were affected:
● Home inspection or repair issues: 70.4% of all contracts canceled ● Buyer financing fell through: 27.8% ● Buyer unable to sell current home: 21% ● Change in buyer’s financial situation: 14.9% ● Buyer found another property they liked better: 12.9% ● Concerns about the economic climate: 12.2% ● Seller backed out: 11.5% ● Low appraisal: 7.9% ● Insurance issues (too expensive or couldn’t find coverage): 7% ● High mortgage rates: 6.5%
Target Older Home Sellers and Buyers
If you’re a real estate licensee, a higher percentage of your potential home seller clients are likely to be near the ages of 50 to 60 years. In fact, the median age of a home seller across the nation in 2024 was an all-time record high 63 years of age, according to the National Association of REALTORS® (NAR).
As I’ve shared before, the median age of a first-time home buyer in the state of California in 2024 was 49 years of age. Again, this was the average first-time home buyer age that used to be in the 20s or 30s in past decades. This is partly because California home prices tend to be almost double the national average, so fewer younger people have the cash or income to qualify for a mortgage.
Because of the older median home seller age, real estate professionals and buyers interested in purchasing either their first home or their 20th investment property should focus on senior-housing communities (55 and older) and other regions where the sellers are more likely to be interested in selling and possibly moving to a smaller property or into other family member’s homes.
For home sellers and their advising listing agents, the Days on Market (DOM) numbers are starting to increase in many U.S. regions. As a result, your creative marketing techniques must be enhanced or tried for the very first time to inspire more people to view your listings online and later visit in person.
NAR’s Home Study Report
The National Association of REALTORS® recently published a very informative study that’s entitled 2025 Home Buyers and Sellers Generational Trends Report, which included details about home buyer characteristics and sales financing trends such as follows:
Characteristics of Homes Purchased
○ Fifteen percent of Younger Boomers bought new homes, compared to only 10 percent of Older Millennials, and nine percent of Younger Millennials.
○ At 42 percent, most recent buyers who purchased new homes were looking to avoid renovations and problems with plumbing or electricity. Buyers who purchased previously owned homes were most often considering a better overall value at 31 percent. Younger Boomers were more likely to purchase a new home to avoid renovations and problems with plumbing or electricity.
○ The most common type of home purchase continued to be detached single-family homes, which comprised 75 percent of all homes purchased.
○ Nineteen percent of buyers over the age of 60 purchased senior-related housing; that number was twenty-five percent for Older Baby Boomers and 27 percent for the Silent Generation.
○ The typical home recently purchased was 1,900 square feet, had three bedrooms and two bathrooms, and was built in 1994.
○ Overall, buyers expected to live in their homes for a median of 15 years, the same as last year.
Financing the Home Purchase
○ Seventy-four percent of recent buyers financed their home purchase. More than 90% of buyers 44 years and younger financed, whereas only 49 percent of Older Baby Boomers and 41 percent of the Silent Generation financed their home.
○ Forty-nine percent of buyers said their down payment came from their savings. Forty-five percent of comparable down payment came from the proceeds from the sale of a primary residence. Seventy-one percent of Younger Millennials and 60 percent of Older Millennials used savings for their down payment, compared to only 37 percent of Older Boomers and 35 percent of the Silent Generation. Older buyers were most likely to use equity from a past home. Younger Millennials used gifts or loans from friends and family more than any other generation.
Home Sellers and Their Selling Experience
○ Younger Boomers made up the largest share of home sellers at 31 percent, had a median age of 65 years, and a median income of $110,700. Gen Xers and Older Boomers comprised the second largest share of sellers at 22 percent.
○ Sixty-nine percent of sellers were married couples. Married couples were highest among Younger Millennials at 82 percent.
○ For all sellers, the most commonly cited reason for selling their home was to move closer to friends and family (23 percent), the home was too small (12 percent), followed by the home being too large (11 percent). Older generations were more likely to move closer to family/friends, and younger generations were more likely to desire a larger home.
○ Ninety percent of home sellers worked with a real estate agent to sell their homes, which was consistent across all age groups.
Helping Realtors & Investors Close More Deals
I’ve created hundreds of articles about fix-and-flips, short sales, seller-financing (subject-to, wraparounds, & paper flips), foreclosure bailouts, and have written real estate licensing courses and college textbooks for the two largest real estate publishers in the nation as well as for the oldest and best-known real estate school in California.
Our team can help you in the following ways:
● I’ve taught real estate licensees in their offices or online and other investors how to find clients, distressed properties, and boost their sphere of influence to find more clients and homes to sell or buy. ● I can teach home buyer prospect seminars either in person or online how to qualify for a home mortgage for Realtor clients. ● Depending on the zip code, city, or county region, my team may be able to refer you to potential distressed properties to purchase or list for sale. ● We’ve assisted with qualifying home buyer prospects at open houses and also provided coffee, donuts, sandwiches, and other types of items that may increase the number of visitors. ● If the seller is distressed (forbearance or foreclosure type of situations) with potentially negative equity and/or years of no mortgage payments made for either residential or commercial real estate properties, my past clients included the #1 largest short sale investor in the nation. I can help negotiate with the existing lender or loan servicing company to get the home sale completed. ● If you or your clients have credit issues, I’ve written numerous courses about credit and may help quickly increase your clients’ FICO credit scores for free. ● I can get you fast pre-approvals and help structure the offer with maximum credits to minimize cash to close. ● My Realloans team and I will simplify your complex deals so that you and your clients are relieved, calm, happy, and close on time. ● I lead the So-Cal Real Estate Investors group where we share the latest real estate trends and deals available for purchase. ● I’m also affiliated with hundreds of real estate investment clubs and 1031 tax-deferred exchange groups, which have tens of thousands of qualified or all-cash buyers who can close quickly. ● We can help get you more views for your listings by sharing mortgage flyers or videos with you and on my networking platforms to optimize viewer traffic.
As we approach the end of 2025 and get ready for the new year, 2026 can either be your best year ever as a real estate licensee or investor, or it could be quite challenging if you’re not willing to make necessary changes.
The choice is yours and yours alone as to your willingness to attempt new creative marketing strategies to boost your sales and/or purchase numbers.
I’m here to help you reach and surpass your goal targets. The best time to start is today, not next year. Best wishes for success in 2026 and beyond!
Rick Tobin
Rick Tobin has worked in the real estate, financial, investment, and writing fields for the past 30+ years. He’s held eight (8) different real estate, securities, and mortgage brokerage licenses to date and is a graduate of the University of Southern California. He provides creative residential and commercial mortgage solutions for clients across the nation. He’s also written college textbooks and real estate licensing courses in most states for the two largest real estate publishers in the nation; the oldest real estate school in California; and the first online real estate school in California. Please visit his website at Realloans.com for financing options and his new investment group at So-Cal Real Estate Investors for more details.
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