Just like I wouldn’t pretend to be a doctor and take out my own appendix, one false move here and you risk causing all your retirement funds to not only become taxable, but to incur an additional 10% early withdrawal penalty if you’re under 59 ½ years old.

So you always want to compute your full taxable loss each year on your return, don't just ignore stuff because you think the losses aren't worth anything.

If you suffer a loss on your primary residence, it is a personal loss not a taxable deduction.

He is working for the moneyFor his inheritance if he has a paid job he can exclude more and effectively lower his tax on the money my mom left him which is all taxable to him because of what it was.

I've become pretty conservative on these things in order to keep my taxable income higher, which helps your debt ratios and makes you look more successful when pursuing bank financing.

He would not be taking any money out of the account, so it would not be taxable event.

Tires, for example, have a useful life more than one year; however, this may be over-thinking it.Even after depreciation, my rental business is creating a lot of taxable gains so I'm trying find reasonable ways to lower my taxable income and owning a vehicle is one of those strategies.Thanks for you help fellow BP-ers!!

Yes, the difference would be taxable boot. 

Illegal being incorrectly used for "Taxable" in this case!

Do not read the book to get practical tips on HOW to invest in real-estate.As fay as the Tax question, there are several different kinds of corporations that help companies reduce their taxable impact but you should seek out a CPA to help you with that.