Hi All,
I own investment properties in Virginia Beach and Hampton Virginia.  Two years ago I started a maid company in Hampton Road Virginia.  While I have grown my client base to a respectable number, I've struggled...

I am in one of the higher tax brackets and could be saving around 40k~ a year on taxes with this.

I’m in the 33% tax bracket through my real job and this could be a big difference in taxes owed if we sold the property?

If you live in the home for 2 out of the past 5 years and move out of state you may be exempt from the tax.  

After five years, you'll earn $120,000 in rent income and $136,000 in appreciation.

I'm talking about tax season! 

And she’s the one that released the latest tax rates and year to year comparisons in September of 2024.

And you now have to file three tax returns:- partnership tax return- your individual tax return reporting 1/2 of the partnership losses- your partner's individual tax return reporting their 1/2 of the partnership lossesAnd while partnership return can be DIY-ed, it probably should not be.

FHA loans typically require the property to be a primary residence for at least one year, so he should confirm compliance with his lender.Once rented, he can deduct expenses like mortgage interest, property taxes, maintenance, and depreciation starting from the date it's available for rent.

I'm wondering if some one can help with an explanation about why a Hotel has many rooms with tax lien on auction?