He has lived there for 3 months now, he has done a little work on it his self to get his rent deducted but it was only deducted one month for $100, he pulled up old carpet, took down wallpaper, and brought up old tile.

i'm an indian citizen and have strong affinity towards investing in usa property, but i'm little bit confused with the law and order prevailing in usa for a foreign national purchasing property in usa. if anyone has the complete set of information or links to some websites which has all necessary information with respect to all the above which i have stated kindly help. the information alsoshould contain taxes and duties levied oved the property when registering and also year on year tax payments

Highlights of the new regulations include:--A Form 668, Notice of Federal Tax Lien, may be filed either in paper form or electronically;--With regard to a Notice of Federal Tax Lien that includes a certificate of release, failure to timely refile the Notice in any jurisdiction where it was originally filed would extinguish the lien;--A purchaser of property in a casual sale is protected against a filed tax lien if the sale price is less than $1,000 (adjusted for inflation - $1,320 in 2008);--A holder of a mechanic lien is protected against a filed tax lien with respect to residential property in an amount up to $5,000 (adjusted for inflation - $6,600 in 2008);--Household goods are exempt from levy to the extent they don't exceed $6,250 in value (indexed for inflation - $7,900 in 2008);--The regulations indicate that there is generally a 10-year period (reflecting the period in Code Sec. 6502 ) for instituting a proceeding in court or serving a levy to collect a properly assessed tax.Preamble to Proposed Regulations 4/16/08; Prop Reg § 301.6323(b)-1 , Prop Reg § 301.6323(c)-2 , Prop Reg § 301.6323(f)-1 , Prop Reg § 301.6323(g)-1 Labels: Levies, Liens

Taxable income includes depreciation which is a non-cash deduction.

Look, people say, you get to deduct this but you don't spend anything.

And if those parents own real estate upon which a lien may be levied... you will have a better position of strength.

You can't deduct these all in one year, although you may pay them at once.

So, should you get wildly successful, thats $78K your heirs will have to pay estate taxes on.No, no, no, you say, that was a deductible expense.

Did you send her an itemized account of her deductions within the time frame?

They have high deductibles, which are covered by previous policies).4) If that's still not enough, you're on the hook for the rest (hopefully that won't ever happen :).Your insurance agent should be able to explain these more clearly in detail.