Originally posted by Matty M:Originally posted by Don Levy: It is now lower than anytime since October 2002.

On the other hand, having a properly formated entity could provide some additional tax deductions and liability protection, of course you should consult with a RE tax attorney on this subject.

New roof and siding at no cost to you (outside of deductible) is certainly not a bad thing when you're trying to sell a property at a profit.

I am looking at a property that has a negative cash flow, but the tax savings through deducting my losses and depreciation more than make up for the negative cash flow.

does the attorney fee count as a deduction?

I would hesitate to give a specific point deduction because so many factors go into the score.

And now....since it's an "income" instead of a "crime", won't every trip to the head shop be tax deductible?

A traditional IRA was tax deferred, meaning you received a tax deduction in the year of the contribution.

yes..........IRS form 1098you will be entitled to deduct interest paid.Make sure your Sub2 addendum states this as well, I've copied and pasted the exact verbiage I use on my Sub2 contracts:Interest Deduction.

I went on the IRS website and read the Publication 527.

I want to know if a Gift Card bought at Home Depot and is given to a tenant for home repairs would that constitute as a repair expense?

A repair is defined as ...