[/quote]I might do so if I had many units rented by people without checking accounts, but like to leave every option open when collecting dead presidents and my properties are higher end so it rarely comes up.

If you elect to be taxed as a corporation a separate return will be required.

Unless you elect special treatment, which probably doesn't have any benefit in this situation, either.

Ron Paul is the clear choice for president.

Just do your due diligence on anything that may be senior, as for the IRS they haven't stepped into any of my deals since we had a real president, and even then they accepted a token amount to release the lien, and were very reasonable.Warning, make sure it is a second, I once had a second that was really a 4th because of a subordination agreement, almost got nailed on that one, would have lost every dime I was going to pay.

You, as the landlord, can elect to pay but I am not sure how that changes the process.

It seems that even the politicians that get elected at the local level on a platform of low taxes, reform, and waste reduction end up getting co-opted by the system and eventually ask the voters for more tax dollars!

If you conduct those activities in some sort of corporation (c-corp, s-corp, or an LLC that's elected to be taxed as a corp and OK'ed by the IRS) and then distribute the money as dividends, you avoid the SET.

Below is an "unofficial" listing: $2,500 Safe Harbor Election for Small Taxpayers.A person or business can immediately deduct repair and maintenance expenses if the cost is $2,500 (or less) per item or per invoice.

There is a big push right now from one of Philadelphia's newly elected councilwomen to identify and punish slum lords.