Specifically, if the Smiths are in the 35% tax bracket, the $5,716 loss on their property will result in $2,001 of avoided federal income taxes.

The same rental application, the same criteria for selection, the same rents, the same amenities included.At the federal level there are 7 protected classes:Race, Color, Religion, Sex, Handicap status, National Origin, Familial StatusMassachusetts has 15 protected classes.

Texas is one of the rare states (as you probably know California is one of them too) where owning a wholly-owned LLC, though it is disregarded for federal income tax purposes, can have state tax implications. 

Get a federal employer identification number, open up a business-only checking account, and keep your personal finances out of your LLC accounting books.Create an operating agreement.

400k from the gov LOLOL, very few people (even fewer in socal) are going to make half that.........https://www.opm.gov/policy-data-oversight/pay-leav...granted that's for federal, but i think you get the point...

Disclaimer: I’m not attorney and this is not legal advise but it’s my experience of actions I’ve taken with success.Docs Your going to need are SCC docs with articles of organization as well as a operating agreement as well as a federal identification number “EIN”.

Post Dodd Frank Act and all the new Federal lending laws, proving ATR (Ability To Repay) is the name of the game these days.

@Frankie Betancourt Buying a property as owner occupied and then renting out right way is mortgage fraud, a federal offence.

This document will entail information such as how income/losses will be split, who will manage the partnership etc.The partnership will be required to file a federal form 1065 and possibly an Ohio 1140.The partnership will be required to distribute a K-1 to each partner which details each partner's share of income/losses. 

It's a federal tax credit.