Hey everyone so I might be closing my first deal as an assignment so since its my first deal I really don't know what form of payment is best for me considering I'm young and don't have any tax deductions.

To be considered a real estate professional, you have to work a minumum of 750 hours a year and those hours have to be more then any other job you have. How exactly do you log hours? I was told there is a list compris...

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 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 ...

Land trust holds property, LLC is the beneficiary. Are rents paid to the trust? Is this paas through, on tax return, like an LLC? Property insurance in the name of trust or LLC?

thanks

Hello everyone-

not sure if this has been covered but I would like to know how long would one have to stay in said property to escape Capitol Gains and within what amount of profits?

Also if someone pays taxs throug...

I will be closing on a 4 plex apartment building this month. Each unit in the building needs new windows and could use some updates to the kitchen and needs new carpet. IRS rules require that repairs, when done as par...

Hey guys I have a question of a somewhat delicate matter. My sister's husband fled the country because of IRS problems. We have lost all contact with him. She wants to sell her house but it is in both of their name...