Subject: Status of Your Rental Application Dear xxxx, Thank you for your interest in the rental property at xxxxxx.

I am not an expert on the spanish tax system but I am reading upon it - It appears that your worldwide assets(Properties in the US) would be subject to Spain's 'Wealth Tax'.Spain is a great place to live...but their tax system is killer

It's all relative and subject to change based on each individual person.

Here is what one of the new people I coach from Socal did with a property in Phoenix
I helped him find. He has taken his training seriously. It’s a Subto (Subject To) that I helped him buy “off market” and he chose t...

If you're subject to the Alternative Minimum Tax (AMT), these deductions may be limited.

I will likely follow what you outlined above, but won't open my calendar right away to allow time for the permitting process.

Which BTW most of our closings are subject-to the existing financing, so we have little cash into the deal, just the arears and the closing costs.You find NOD and pre-notice via;   realtytrac.com / equitydepot.net (if they cover your area). 

Generally if you only have a handful of rentals and you are fulltime doing something else (a W-2 job), it'll just make sense to claim the standard mileage deduction - @David Orr did a good job outlining all the related nuance to that.  

Ken, You're changing the subject to something neither of us ever discussed.The only thing you claimed was that having no-debt on a SFR property makes no sense, because of your theory that the government is going to be massively raising taxes on property owners to "oppressive" levels.

LLC-A deducts the 10% management fee, while LLC-B reports it as active income, subject to self-employment tax but eligible for tax-efficient salary and distribution strategies.Ensure the setup has a clear business purpose, reasonable compensation, and documented management services to avoid IRS scrutiny.