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.

This isn’t/wasn’t a loophole - just tax policy. 

.: Hello,I'm new to tax/mortgage surplus funds retrievals, and have been in contact with a homeowner who is willing to work with me.

Maybe that is why the old owner didn't pay their taxes?

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

About 90k that will be taxed at 40% if I take it now.

@Anita Z.I recommend finding an accountant who specializes in real estate taxation, tax planning and financial planning.

Hi All, any input on renovating a house and possible tax exemptions under an LLC?

Tax credit 45L for a 90 unit or 112 unit project? 

Focus on tax-saving strategies such as cost segregation studies and bonus depreciation to accelerate deductions.By qualifying as a Real Estate Professional (spending 750+ hours annually and materially participating), you can offset your wife’s S-Corp income with real estate losses, reducing your tax liability.