Hence the lot on which the house resided was taxed at a 45% discount based on actual value, while the tennis lot was taxed at about 4 times what it should have been by value. 

Measure how long get two brackets.

There are many tax accountants on Bigger Pockets that can help you with your situation. 

If your friends have a rental they should hire a tax professional. 

Looking for various tax strategies to reduce the reality that a large RV or boat is a grossly depreciating assetI would not have a loan, so claiming it as a primary or secondary residence and claiming the mortgage deduction is not applicable.I sold my primary residence and I have several rental properties which I use as I'm fixing them up.What I'm pondering is living aboard and working aboard developing a new product, while traveling.  

The estimate I have from a cost segregation firm is $316k (w/ study) vs $28k (no study)-Assume we're in the 37% bracket  -Does this mean, I can claim a $117k depreciation deduction for this year? 

Quote from @Joshua Tucker: What specific tax benefits can high net worth individuals receive from building real estate on tribal land?

Account ClosedI recommend that have a consultation with your tax accountant and/or financial advisor on ways to reduce your taxes. 

Adding the ex to the title could trigger gift tax implications, so keeping it simple is best.

They lowered the “taxable value” by 40-50% and then raised the tax rate about 35-45% lowering everyone’s taxes that year.