Do I need to file a tax return for a partnership LLC with no business activity? I’ve heard of a “No/Zero Activity Tax Return” but I want to get some clarification. Much appreciated!

Hi all.  I have a Wyoming LLC I created to buy a specific property.  I ultimately did not close.  I want to use this LLC but I do not want to keep the name. It will still be doing real estate activities. I have a D&am...

I have a condo that I want to sell.  Owned more than 5 years, never owner occupied.  I want to claim the condo as my primary residence and keep current residence as a second/vacation home.  
Reading publication 523- ...

I have a private lender who is owed the full amount in a few days. He is interested in continuing to loan the money. What would you use to change the terms of the loan to extend it another year? Simple addendum? A spe...

Hey Guys,

I have done a demographic overview on the area I live in to try and narrow down the best place to start my real estate investing. I am looking to create passive income with a buy and hold strategy ...

Taxpayers are constantly striving to be able to make more money. A great way to do that is by investing in assets and growing your financial portfolio. By investing, further savings are acquired by being able to reduc...

I have filed for eviction on a tenant and I am waiting for her to be served. The day after I filed I noticed she had moved out of the house. I can see in the house and everything is gone. I then put up a For-Rent s...

I sold a rental property.  Half-way through owning it, I realized that I had failed to begin depreciating it when I bought it, and I started depreciating it.  Had I depreciated it from the beginning, I would have acco...

I wanted to share a lesson I learned with those getting ready to pull the trigger on their first deal. Despite having a couple great mentors, reading "Rich Dad Poor Dad", and listening to dozens of BP podcasts - I qu...

I started renting out my once-primary home in 2022 and doing the taxes for 2022 now. I need some help to do my taxes. I am hoping to do taxes by myself.So I purchased this home a few years ago for a certain price. To ...