I have a day job and i am planning to buy a new primary residence by renting out my current residence.
Questions:
 I will get rental income of $36,000 and expenses of $44,000 (Includes mortgage insurance, property ...

Hi All,I got an estimate for rehab work on my Duplex in Texas and the contractor is claiming Sales Tax ~8% on the labor. Is this allowable? My gut says no and apparently so does the Comptroller of TX:"Labor to repair,...

Hi allI own a property in Chicago w/ tenants currently living there. There was a piece of mail that was delivered to the unit addressed to me from MyHomeRefund . See attached picture that my tenant sent me.  The cover...

The rate cut was no surprise. However, instead of cutting to a specific rate they have established a range of 0% to 0.25% for the Fed Funds rate. The Fed is running out of ammunition.
http://finance.yahoo.com/news/F...

Do nonresident rental losses affect resident state income? Also, if had a rental loss as a part year resident of 2 states, would you receive the benefit of the losses where the rental is located to reduce other income...

Hypothetical: I live in California, I have an LLC in Wyoming, and I buy long-term rental properties under that LLC in   Utah.Which state collects income tax on the cash flow?If I were to sell a property, which state c...

On Friday, March 27, the President signed the massive $2 trillion coronavirus Stimulus Bill (the Coronavirus Aid, Relief and Economic Security [CARES] Act) to provide assistance to workplaces and employees. The law pr...

Need advise on how to set up best and practical asset protection. I Live in CA. Have multiple single family Properties in various states. Ca lawyer says single member LLC are not really a protection in CA. Need to for...