Someone who finds loopholes to avoid/defer ordinary income tax.

Very relevant as we all do our yearly tax rituals (whatever yours may be)...The Schedule E is not ideal, but for round peg expenses (that are legit "ordinary and necessary" expenses, and the IRS and tax courts have lots of info, be it regs, opinions, and decisions on that) that do not fit in their Schedule E round hole categories, I try good ole' Line 19 and I even write in a couple (be it condo dues or cell phone) that are major contributors to the category in the small space provided.

I have 4 properties under contract at the moment so my CPA says I'm a dealer and have to pay ordinary income taxes on my profits.As a dealer, I'm wondering if I can utilize the 1031 tax deferred exchange?

They give a basic cover sheet run down noting anything they think is out of the ordinary then the attorney reviews it and decides if it is good to go or what may be needed to clear the title.

Originally posted by @Jay Hinrichs:@Lew Payne  [various follow-up questions]Exactly - Investments bought and sold through my IRA are not subject to capital gains or ordinary income tax.  

Just curious what is typically used to estimate what ordinary maintenance/repair costs to get a good judgement of NOI to help determine deal analysis.Thank you,Nick

Also, the bank will not pay more than an ordinary amount of RE commission.

There are usually better rates and terms available for investor financing via an ordinary mortgage broker.  

Profits from short-term flips will be taxed similar to ordinary income, so you might be giving a good size chunk of the profits to Uncle Sam each year.

Almost $20,000 in lawyer fees and 2+ years of litigation later, we're foreclosing on the house in order to collect our court fees from him.After that, we adopted a very simple rule... we pull permits for goddamn everything, no matter how simple, no matter how ordinary.