I think it's more important to know how to use and interpret vs. calculate it.

And the simplest interpretation of the facts you presented is that you were willfully lied to multiple times.

Referring to IRS fact sheet 2008-25 my interpretation is I am not required to classify any of that income as salary as long as I don't distribute it.

The attorney cost will likely be $500 to $800...here's a narrative on the NC State Bar's thoughts on a non-attorney handling a residential real estate closing--good luck.The North Carolina State Bar has interpreted the state's unauthorized practice of law statutes as prohibiting a non-attorney from handling a residential real estate closing (Authorized Practice Advisory Opinion 2002-1) (APAO 2002-1).

The charges are collected from the client during the year instead of waiting until the end of the lease.I will need to speak to an attorney on this one since the Realtor's opinion could be because of where the statement is written and perhaps there is a better location for it from a legal interpretation perspective.

I wanted to make sure he was correctly interpreting the tax law while at the same time making sure all tax benefits are being applied.

I read Amanda Han and Matthew MacFarland's book and understand (or interpret it anyways) that the limit is $2,500 but several CPAs I've spoken to locally tell me it is $500.Second, If I have several capital improvements, each costing less than the $2,500 threshold, can I expense them all instead of capitalizing them or am I capped at $2,500 TOTAL?

There are significant grey areas, subject to interpretation, on what activities count toward material participation.

Partnering with disqualified persons is either flat our prohibited or very restrictive, depending on the circumstances and interpretations of the regulations.

@David KrulacI am sorry, but your interpretation of what constitutes self-dealing is simply not correct and has no basis in the code as written or tax case history.Administering the investment activities of an IRA is not something that would automatically be looked at as "providing services" to the IRA.