If you haven't yet found a CPA or tax professional to help you save on your tax bill each year, would you want BP to help recommend a tax professional for you? 

@Devakumar Sai Chinthala There are income limitations for passive losses, you should check with your tax professional.What will the property taxes increase to after you buy the property?

And you now have to file three tax returns:- partnership tax return- your individual tax return reporting 1/2 of the partnership losses- your partner's individual tax return reporting their 1/2 of the partnership lossesAnd while partnership return can be DIY-ed, it probably should not be.

On top of that, hiring tribal members for construction or operations could qualify for employment-related tax credits.

The study needs to done for tax filing purposes?"

I've wanted the child Florida LLC to be a pass through entity, so the taxes are paid by parent Wyoming LLC, which is taxed as corporation.Which bank would you suggest to use to open an account for child Florida LLC?

If not for those rotten CPAs, we could deduct everything, including dog food and CrossFit memberships, pay zero taxes and finally be happy.

You need to figure in taxes/insurance, vacancy, repair, utilities, and capex.  

Rentals generate passive income, so an S-Corp offers no added tax benefit.

RTR estimated taxes at $6,400, but the actual tax bill came in at $14,300—a staggering 2.23x higher!