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

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.

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

If you need help with landlord laws, house backing strategies, or traditional MTR investing specific to New Jersey happy to help.

“Passing Good Cause is not only a step toward tackling these systemic issues—it is the vital foundation to any meaningful action.”In a free market economy, how will those providing housing react to a law that forces them to house non-paying tenants for free? 

Without an ITIN/SSN, I'd be worried about running into KYC/AML violations, fed tax liens, the borrower being deported, lien enforcement, etc.

Know and obey the law.

Newton's law of tax: What goes down must come up.Everyone enjoys the sweet benefits of bonus depreciation, but what happens when you sell?

California law requires abandoned tenant property under certain circumstances to be sold at public auction.

I would also share pros and cons of paying taxes on the windfall versus owner carry.