U.S. persons currently enjoy a credit that shelters the first $3,500,000 of assets from taxation, as opposed to foreigners who have only a $60,000 credit.

"Some, who have not denied the necessity of the power of taxation, have grounded a very fierce attack against the Constitution, on the language in which it is defined.

:wink: )We don't make stuff anymore so our trade deficit is growing and taxation is the only way to gain revenue.I would love to abolish all payroll taxes and just go with sales tax.

Republicans will call for Tax Cuts, Democrats will enhance taxation, But who's gonna revive Manufacturing in America ?

Assessed value really only has meaning from a taxation standpoint in my experience.

Kotlikoff says: “The IMF is saying that, to close this fiscal gap [by taxation], would require an immediate and permanent doubling of our personal income taxes, our corporate taxes and all other federal taxes.“America’s fiscal gap is enormous – so massive that closing it appears impossible without immediate and radical reforms to its health care, tax and Social Security systems – as well as military and other discretionary spending cuts.â€He cites earlier calculations by the Congressional Budget Office (CBO) that concluded that the United States would need to increase tax revenue by 12 percentage points of GDP to bring revenue into line with spending commitments.

Having a managerial accounting knowledge will be sufficient, basic slotting of acounts, basic cost accounting and basic taxation, you need to make the decission to slot entries, after that, it pretty well maintains and flows itself.

Remember that the municipality has unlimited funds (because of taxation) and can therefore fight longer than the person that did not do their due diligence.

Flipping real estate and developing land for resale are examples of investments that are, more often than not, considered "businesses"—which makes profits generated by such activities fair game for taxation."

Thanks motiv....i have been asking myself repeatedly if i am going too fast.....if i am making the right choices...i am comfy with my analysis but i want to make sure i keep my eyes and some resources for other opportunities..regarding the ira.....we are rolling that over to a C-Corp and then investing in real estate..this way i do not have to take a distribution....i am trying to understand the double taxation effect of a C Corp...i read on this site that an LLC is a better option...not sure if tht option is available for ira funds....if anyone knows pls advise....bill....all these are conventional loans...so need to put down 25%..for e.g.i bought a vacant studio plex for 133k, put down 25% and spent another 2.5k on appliances and repairs....for a total outlay of 40k incl closing costs, rented each of the 4 units for 600(rem. these are studios), used 28% expense ratio, and i get annual cash flow (before tax) of 14k.i want to get another 5 properties next year...and hence want be a bit wiser before i buy the next batch over a year...what shd my next move be?