Focus on tax-saving strategies such as cost segregation studies and bonus depreciation to accelerate deductions.By qualifying as a Real Estate Professional (spending 750+ hours annually and materially participating), you can offset your wife’s S-Corp income with real estate losses, reducing your tax liability.

Hi All, any input on renovating a house and possible tax exemptions under an LLC?

Maybe that is why the old owner didn't pay their taxes?

We are in a very low tax bracket this year but should be 10% higher in 2025.

These logs regularly end up in the Tax Court and are usually destroyed upon review.

@Anita Z.I recommend finding an accountant who specializes in real estate taxation, tax planning and financial planning.

You may also need to provide additional documentation, such as proof of income and employment, and may need to have a co-signer who is a U.S. citizen or permanent resident.In terms of buying with an LLC, it can be a good option for some foreign buyers, as it can provide additional liability protection and potentially offer tax benefits.

I'm definitely gonna consult an attorney experienced in evictions.

So before dismissing your options, you may want to consult an investor friendly Lender who is an out of the box thinker.

They were taxing as a fourplex, but the CO said it was a triplex.I found out when I went to try to refi with the bank.