Keep houses paid for --Free and Clear is never a good idea- NO Return on Equity and no tax deduction on interest --If you want to feel comfortable --keep one or two free and refinance other two -so you can buy few more -- You can also buy in long term Apartments units --Partenrship - REITs or TIC in strip centers -- I hope your prices are holding up

Itemized deductions and personal exemptions will again phase out, which has the same mathematical effect as higher marginal tax rates.

that is all included in the mileage deduction that is being utilized, so you do not need to send them a 1099.

. -- Eliminate Social security --for any one under 35 --- do not take out any deductions -- Flat Tax --on consumption only No Income Tax and NO Capital gians tax check my first blog--may be too late -[LINK REMOVED]

Do I have to have a renter in this year in order to deduct the repairs I have made?

In my opinion, IRA's are better served making loans on RE rather than owning teh RE due to several negatives, of which include, but not limited to, no depreciation deductions inside an IRA, all the handcufss from the IRS restrictions, the managerial aspects (hands on it takes) for the IRA which can get complicated, and the lack of ability to use leverage.If you do self direct, you will want to use an LLC for checkbook control and not a C corp.

A common mistake is to assign a value of what it would cost to build that fireplace, but that is overstating the value in most cases, without considering what is common for the area, depreciation, hassel of the mess building one, etc. so a fireplace may only add (or deduct) 1,500 dollars.

Like the feds, states have deductions.

I deducted the damage from their security deposit to pay for the replacement, it also cost me an entire months worth of rent on top of having to replace the carpet, since I couldn't get a tenant in mid-month.

Insurance coverage varies, but my insurance covers 100% replacement cost and I have a high deductible.