To plagiarize Kiosaki there are three groups of people:Those that make a living by acquiring assets that create value (Investors).Those that make a living by creating value with their time (employees/self employed).Those that sponge off the first two groups through compulsary taxation and redistribution.If you re-read that list of 20 things the "rich" do every day through this prism it will make more sense.

As a result, members enjoy the advantages of avoiding the "double taxation" of corporations as well as receiving tax relief from the poor performance of their LLCs.Limited Liability PartnershipLLPs have the same tax advantages of LLCs.

If I were to form a c-corp, the expense of double taxation and paying FICA on my rental income probably would off-set any potential advantage.I guess the solution is for my kids to get married at 17, lol!

The partnership does not pay any income taxes in its own right, but rather the partnership income passes through the partnership to the partners for taxation on each partner's respective 1040.

So using the 50% rule,$525 would be put away and used to pay property tax at the end of the year, along with repairs, management (if used), insurance, etc.

I can start to help others buy and sell property, learn more about various contracts, deeds, taxation policies, and all of that other mumbo jumbo that terrifies us newbies.Now I know this may horrify some people.

Regarding taxation you need to get advice of a tax expert, @Nathaniel Busch would be my go to person for questions like this.

That doesn't apply or effect gifting or transfers for estate purposes for such stated purposes where allowances are made.In financing, a sham note can be one with zero interest where imputed taxes are assessed or where a note is made at a higher par/upb to make up an interest amount to avoid interest or usury issues, it's a sham note.Those who are inclined to be "creative" in their financing or transactions between closely held interests or even with other parties where the purpose is to avoid taxation or profiting need to study the issues of sham transactions

An entitlement, if you will, and I think the benefit is exempt from taxation.

Also, I'm an EA, (I'm licensed in taxation where a cpa is licensed in accounting).