Looking for guidance for how to handle rental income on my tax return this year:
1. Rented a room in my town home to a friend from May 2021 to December 2021. I live there as well.2. Made around $3k in rental income (...

Quick question for a tax professional, I've read extensively and started to draft a modification for our partnership operating agreement - but want to verify that this method works.  Since we use our personal vehicles...

So I formed an LLC and opted to be taxed as an S-corp in 2012 thinking I'd save money on payroll taxes when I make a ton of money, well... like most new investors I only made a little... $1,650 I paid myself out of a ...

I have read that if you charge reasonable rental and treat the tenant as you would any other tenant, you can possibly rent a property you exchanged into to a relative. Could you rent the property to yourself? I have s...

Here's a framework that you should know for tax planning:
The further you can push your taxes out, the smaller they become.The time value of money shows us that a dollar is worth more today than 20 years from now.Pla...

I am managing 4 rental properties that me and wife owns. All of them are LTR, I do have a full time job so this is something I do outside of that.
Regular activities include yard work, small repair & maintenances...

Hello,My first rental was purchased in September of last year. So I had a Schedule E for last year's tax return. And now I'll have a schedule E with this year's tax return. Does this count as the "2 years" so I can us...

I have ran across individuals who flip houses and am curious as to what techniques they use for tax filings when they are not incorporated under an LLC or S corporation? When an individual purchases a property, how do...

Hello BP. I was wondering if others commonly request the seller / landlord's tax returns when buy a rental property. if so what is the common practice for this. would it have to go through an attorney to scrub the per...

We bought a single family home near downtown Denver, gave it to a builder for constructing a duplex after doing a quit claim to an LLC in 2018. The Duplex finished building in Summer 2019 and we sold it in fall 2019. ...