Hi everyone, I need some tax and legal advice in my situation where I have been incurring a good amount of unexpected expenses, and after some research tax rules seem to allow up to $25K of write-offs a year, but is p...

I came across this statement in an article on the new tax law. "The new tax law restricts taxpayers from deducting losses incurred in an active trade or business from wage income or portfolio income and this will appl...

Are you limited to $5,000 in expenses in your first year as a business?

I am a new landlord renting out my first rental property. Does the IRS consider rental income as regular income and tax accordingly (30%)? Are there any special tax breaks or deductions?

I am just starting out in the rehab game, and I was wondering what most people are doing as far as setting up an LLC or? Is there a good way to protect my current assets in the event of a bad investment? I have a ni...

I heard from my dad that back 15 years ago when he was an active investor managing a rental business, he was allowed to take unlimited tax deductions...is this true?

Now, I know that you can ...

I recently had a real estate agent inform me that FDIC had required a bank to set the asking price for the property at the loan value and not the actual property value.

Basically the 1 acre lot andmobile home is wort...

Hi All,
I have a question for those of that are tax savvy. If you have a loss from syndication investment ( the entire project went bust) can you use that loss (from the final K-1) to offset your regular W-2 income ?...

Hi,I apologize if this question has been asked. If you form an S Corp with your properties and your building has losses, can you write off those losses against your AGi?

I make 100k salary. I have about 3k in taxable income from stocks and I’m trying to understand how much of my losses I should sell off.I know the irs limits your losses to 3k per tax year. So I’m my situation can I ta...