I haven't been able to find out if the cost of the study itself, which can cost thousands of dollars, is tax deductible. If it is deductible, can the whole cost be deducted the year it is done? Thanks in advance! (The...

I am buying my first property and plan on living in it for a few years and then renting it out. There are some things that need to be done and seeing as it isn't yet a rental property, it is my primary residence, I am...

https://www.marketwatch.com/st...
Higher maximum rate
The pre-election Biden
tax plan would raise the top individual federal income rate on ordinary
income and net short-term capital gains back to 39.6%, the to...

I'm building a house intended to be sold for profit. The house is still under construction at the end of the year. If I'm $250k worth of expenses into the project, do I write those expenses in this tax year? Or do I m...

In a non-traditional arrangement, my Ex-husband and I hold a joint mortgage, post divorce, on the property that I have exclusive use of.  The property will remain jointly owned although I live in it and he does not.  ...

In the ideal circumstance the title of all your properties will be under a corporation and all transactions and deductions under the corporation so any profits or loss will flow to your personal incom.  However, since...

Business Travel Basics
A business trip is an opportunity to do productive business while earning substantial deductions. But it's important to know the rules and limitations of deductions for business trips; i.e. w...

I would like set up my business to take full advantage of every tax deduction. Should it be a LLC? Your help or guidance will be greatly appreciated.

We are in the process of closing on our first property. It is a foreclosure. The price is 61,000 with rehab estimated at 50,000. The city said we need Hazard insurance. What type of insurance do we need and how muc...

With the new tax bills 24K std deduction most folks will no longer itemize...now throw in that a lot of folks here have rental properties with equity in them.... Given the above shouldn't we all be trying to leverage ...