They will issue an IRS Form 1099 in January, reporting your total taxable income to you and the IRS.

Maintain detailed records to substantiate deductions for materials, labor, and expenses, which can significantly reduce taxable income.While an S-Corp provides tax savings, it also requires payroll management and compliance with formalities, making it essential to stay organized or consult a tax professional for ongoing compliance.This post does not create a CPA-Client relationship.

Normally this would be taxable. 

Property owners get an annual update on their SEV & Taxable Values with their city property tax bill, typically sent in December.So now, the city assessor tracks the SEV, but homeowners are taxed based upon the capped Taxable Value.

If your new LLC is a disregarded entity (single-member or owned solely by you and your spouse in a community property state), it won’t trigger a taxable event, and you’ll continue reporting income on your personal return.

This defers capital gains and depreciation recapture taxes on the sale of your fourplex.After converting it into your primary residence, you may qualify for the primary residence capital gains exclusion ($250K single/$500K married), but only for appreciation after the conversion; gains from the rental period remain taxable.

There is not a taxable event to you on the sale.

Quote from @Jonathan Bombaci: This year, our management company, which oversees 700+ units in Massachusetts and New Hampshire, spent over $209,000 on attorney fees, primarily related to evictions.

Hey @Brandon LaRose, do you have the ability to use a Margin Loan against a taxable portfolio, or a policy loan against a permanent life policy?

Essentially lower my taxable income by $117k?!