An economy is meant to “correct itself.”

., job growth vs sustainable job/wage levels etc etc.And of course this IS an election year....How much is hype?

Obviously i meant TAX rolls, but i think you are too busy coming thru posts looking for opportunities for self-aggrandizement to consider this.

He really meant to say that ACTIVE participation rather than material participation is required to take the net passive loss allowance against ordinary income.

I suppose what I meant by commercial loan is NOO loan "commercial loan" not that the building is 5+So after the Occupancy rider time is up (1yr) I can get another loan and its all good?

If you meant what should you do, I don't know enough about you.

(Corporate taxes are due the 15th day of the third month after the end of the corporation's elected tax year.)Otherwise, COGS formula is -Beginning Inventory + Inventory Additions - Ending inventoryYou are in your first year of business, so beginning inventory is a big fat zero.Your purchase of flip 1, plus all associated costs, plus purchase of house 2 and all associated costs, are your inventory additions.Your ending inventory is house 2 and all associated costs.For purposes of inventory, every utility bill, contractor bill, permit bill, material bill... is all part of inventory.

You can certainly flip in an LLC too, but I would suggest you speak to your CPA regarding this and elect to have the LLC taxed as an S-Corp.

I wanted to confirm that I meant to get it reinspected after you do the repairs suggested in the report.

Read the EDIT that I added to the original post; it shows how the numbers should end up getting calculated.Those other neighbors are allowed to keep their existing assessment until some interested party elects to challenge and initiate an appeal.