Anyway, the first question is whether or not you can qualify for the Safe Harbor for Small Taxpayers - what's the unadjusted basis of your property (purchase price, plus acquisition costs, plus improvements.

@Cash Lawless: Getting Medicaid assistance for an individual, the government agency receives its monies from the taxpayer (i.e. all of us).

Also while them having a criminal record and even jail time may be attractive on the surface it just costs tax payers more money.

Some people starting out with no assets, the underdog DIY, has limited support for their tax payer dollar some of which are creating jobs in the community.

Barrack Obamas plan is to ask the few left working to pay more and more... and then extract what they can from higher income individuals to pay more and more.. but soon, the balance will tip, and the taxpayers won't make enough to carry those not paying taxes... and it's getting close to that now.We need a plan to get businesses going again, which will create more jobs and a larger tax base.

This is the type of thing that drives me crazy and I avoid EIC like its the plague.The taxpayer(TP) goes into a tax office to have their return preparered and claims miraculously a rather exact income that can be found on the attached chart.

After the purchase though the nature of any security deposits does matter even to a cash basis taxpayer.

And since so most people could not buy a house without a mortgage loan, FHA-insured lending emerges as the only option.Didn't the federal government just bail out big bank default on taxpayer dime?

Rental income is ordinary income which is taxed at the taxpayer's marginal tax bracket rate whether the rental property is held in his own name or in a passthrough entity.As a general rule, the passthrough entity is tax neutral, so there is no tax advantage to be gained by holding rental property in a passthrough business entity.

See Notice 2015-82, Increase in De Minimis Safe Harbor Limit for Taxpayers Without an Applicable Financial Statement(pdf), on the IRS Web site for details concerning this change.