Want to pay as much tax as possible?

Can I still claim the whole mortgage interests and property tax as deductible given that I take depreciation write-off of the Airbnb room?

Unlike passive rental income, the income from an active trade or business is subject to self employment tax (a nasty 15% tax commonly referred to a "social security and medicare" by working folks).

Same thing will apply to Ohio Tax as well.Ohio does have a Commercial Activity Tax based on Gross Receipts, not net, but there is an exemption on your first million.Let me know if you have other questions.

Check out these states competing for corporate business and registration: https://www.myusacorporation.com/articles/delaware-vs-nevada-vs-wyoming.html My state did away with franchise tax a while ago, in 2013 no corporate tax for pass through income.

For example, for 2008, if you were married, filing jointly and had a TAXABLE INCOME of $100,000, you would actually pay $17,688 or 17.68% of your income in Federal Income Tax (as opposed to 25%), even though you were at the 25% marginal rate.Next, you would need to consider the depreciation of the rental property, which will significantly lower (or erase) the taxable income from the rental property depending on your individual circumstances.

Hey All,What does everyone list as business type when using Turbo Tax as a real estate investor?

It is pre tax as far as i know.

A 1031 exchange is not the only way to defer capital gains tax. A

I think your donor will be exempt from gift tax as long as the gift is not tangible personal property or real estate, but I am not completely sure about this.