I'm responsible for it's mortgage payment, it's tax payment, it's insurance, it's repairs and regular maintenance, etc.

Account Closed Beginning in 2013, a new 20% rate on net capital gain applies to the extent that a taxpayer’s taxable income exceeds the thresholds set for the new 39.6% ordinary tax rate ($400,000 for single; $450,000 for married filing jointly or qualifying widow(er); $425,000 for head of household, and $225,000 for married filing separately).

If depreciation is deducted against collected rents before partnership distributions are made, then the distribution ratio would only apply to the net income or net loss incurred.If the net income is evenly split, the high bracket taxpayer will have less after tax income from the property than the lower income taxpayer.  

Although it is typically true that the the lower the property sales price, the lower the property tax value, and thus lower property tax payment...

It hurts tax payers and small businesses.Also keep in mind that the Obama administration had the highest number of deportations of any president and a lower number of returning than Bush or Clinton. 

Hi Mike,Generally a sole prop uses the taxpayers SSN for its EIN and the rental income and expenses would be filed on Schedule E of your 1040 personal return.Do you have employees?  

In 1997 the Taxpayer Relief Act was passed - this is the act that allows you to waive capital gains taxes if you live in and own for two of the past five years - a VERY big deal.In 2002, my real estate attorney had no idea this was a thing.

When rates climb the scales will tip.Most jobs that are created will likely be low pay and at the tax payers expense, this will also contribute to the tipping point. 

Taxpayers are paying you a comfortable living wage to go to college, while our civilian peers are going tens and often hundreds of thousands of dollars into debt to go to college.

The statute requires that the tax payer for the old property be the same as the tax payer for the new property.