
11 April 2021 | 43 replies
Instead of giving people money, we should be giving them a financial education so that they understand that there are more/better options than just getting the bare minimum from the tax payers.

1 April 2021 | 9 replies
@Ryan Wamsat Not a CPA but I think in your case you’d better google “ Safe Harbour For Small Taxpayer”, which allows you to deduct (even better than depreciation) of 2% of the depreciation basis(not include land) up to $10k, no matter repair or improvement.

2 April 2021 | 14 replies
After this I hope the tenants get several years of free housing on the tax payers dime in jail but I am doubtful.

31 March 2021 | 10 replies
It allows taxpayers to deduct expenses for business even if they do not have the receipts to document them.

4 April 2021 | 5 replies
Meaning a person can be both a dealer and an investor.To determine if the taxpayer is a dealer three questions must be answered:(a) What is the taxpayer's trade or business?

5 April 2021 | 3 replies
It would not qualify for 1031 Exchange treatment because the "taxpayer" doing the 1031 Exchange has changed.

7 April 2021 | 21 replies
maybe that silly guy should build some houses.....oh yea the government is not taking taxpayer money and willing to give to him to build houses like they do for his cars.

25 February 2021 | 3 replies
If you quit claim into a multi member LLC you will have changed the tax payer going forward.

6 March 2021 | 7 replies
As most rental real estate produces a tax loss, most taxpayers do not receive a benefit for these expenses, which are suspended under 280A and carried forward until you either have taxable income from the property to absorb them or you dispose of the property and lose them.

3 March 2021 | 7 replies
Due to 1031 requiring same tax payer ID on both sale and purchase as part of the exchange, I purchased my rental with a conventional mortgage under my name with the intention to then transfer Deed after closing to an LLC (already created).