Then later in life any unused amounts and any income earned on it is still yours and still tax free.

BECAREFUL of these scammers, it is your hard earned money and if you follow their advice it could land you in jail.http://www.ripoffreport.com/reports/specific_search/twyfordhttp://www.flippingfrenzy.com/category/dwan-bent-twyford/http://www.scam.com/showthread.php?

Trust is EARNED, not bestowed.The key here is to get on the straight and narrow and stay there.

I'm choosing Corp over LLC because I will be earning active income vs passive with rehab/flipping and buyer closing costs; I am not holding any rental properties with this corp.When choosing a name for my corp, are there any rules against what name I can use as an agent?

There’s no tax credits for house hacking but you can deduct passive losses on your earned income if you qualify.

And to a guy, saying that you just went to school to improve future earnings can carry some weight and they may be more understanding than a bank.

I want to make sure I rack up 750 hours doing real estate this year to get my losses counted against my W2 earnings.

He now owes you for the back taxes and interest earned.

I set a goal of earning $300,000 a year, which seemed impossible, and frankly ridiculous.

@James Mc ReeLast I checked with my CPA as well as another CPA, passive income (rental income) doesn’t automatically become active/earned income simply because one qualifies to be considered a RE professional.