How do you avoid this?

They are just trying to twist wording in hopes to avoid claiming income.

I was gearing up for a great 2012 until Fannie Mae wouldn't approve my mortgage without a central heating system.

I avoid pretax contributions like the plague.

my partner and i have been talking to a cpa and he told us to start up an s-corp to avoid self employment tax which is at about 15% in minnesota. according to him we would 1) incorporate our business 2) file with secretary of state 3) get fed and state id #s 4) file sub s status 5) open bank account 6) buy quickbooks. is this what we should be doing instead of having an llc with my partner?

I'm not sure what the rate is in our county, but with our personal rentals (here in south central WI) we had the lowest vacancy ever. 2.5% in 2011.

Rich Weese - What happens if you feel that we are close to a housing bubble burst again and you own property that has appreciated substantially, how would you avoid taxes then?

I'm only trying to avoid unnecessary extra hassle.

I know about assigning the option but what if I have a constructed a fair deal with both seller and tenant buyer where there is a good amount in difference between the two option prices, how do I avoid being cut out from the bank?

I know it is intended to tug at our heartstrings but unless someone can create a new system to avoid risk, then what else is there to do?