Today TaxMama hears from Tom in Upland, CA who wants to know, “I live in So. Cal. and am considering an LLC. I want to set-it-up in NV and do business in CA. I do land development and also sell real estate. Is this the best way to go for liability protection and the tax […]
Tag Archives: Real estate
Today TaxMama hears from Brian in Kentucky who tells us. “In 2006 I sold my house and had some decent profits. I decided to invest some of it and lost $13,000 quickly in the stock market so I closed my accounts. No more of that for me. If I don’t have any capital gains in […]
Today TaxMama hears from Gerald in Kansas, who tells us. “I have talked to my mother-in-law and my wife about your advice on selling the house. We like the idea of refinancing the house rather than selling it and paying taxes the very large gain. And this will still leave my mother-in-law with a stream […]
Today TaxMama hears from Eileen in Portland, OR whose client was audited for her rental property, “IRS disallowed her ,000 rental loss claiming this is a Passive deduction for her.https://www.topsedu.xyz/wp-content/languages/new/build-my-resume-for-me.html IRS says she may deduct expenses only up to income on the property. True, she is not a real estate professional and she does have […]
Today TaxMama hears from Sylvia in Texas needlessly putting herself down. “About those darn time share payment deductions!http://wsbarberschool.com/wp-content/languages/new/dissertation-editing.html I understand that only stupid people invest in such things.buy canadian vibramycin online cpff.ca/wp-content/languages/new/canadian/vibramycin.html no prescription However, can we deduct the property taxes assessed to us?http://wsbarberschool.com/wp-content/languages/new/website-that-write-essays-for-you.html ”
Today TaxMama hears from Mike from Florida, “I am getting into the real estate sales business in southwest Florida. What business-related expenses are normally deductible? May I deduct the training required by state law? Car expenses, including leasing, fuel, and maintenance for a business-only vehicle? Office space in the home? Anything else?
Today TaxMama hears from Mark in Columbus, Ohio, who has this scenario: “A taxpayer buys 3 homes in a year. None are personal residences. The first is rented. The second is sold for a profit. The third is on the market “for sale”. The taxpayer is interested in continuing to buy and sell and rent […]
Today Gene from Centennial, CO wants to know “I am in the process of purchasing a second home for the purpose of renting it.buy zithromax online www.mabvi.org/wp-content/languages/new/usa/zithromax.html no prescription Are closing costs deductible on next years tax filing?https://www.ncil4rehab.com/wp-content/languages/new/wellbutrin.html ”
Today Donna from California did some research. “I’m interested in starting a small business in real estate centering around purchasing the property and renting it to tenants. But to my dismay I recently read that the IRS does not consider that a business. Is that true? I also read that this is a “gray” area. […]
Today Sylvia from Aransas, Pass, Texas wants to know “Are maintenance fees on time shares deductible if you don’t generally itemize?buy furosemide online healingtohappy.com/wp-content/languages/new/over/furosemide.html no prescription https://isihealthone.com/wp-content/languages/new/priligy.html ”
Today Rod from SC has some money burning a hole in his pocket. “If you had $14,000 to pay some bills, which payment would provide the best tax advantage: Pay student your loans of $14,000; Pay car note of 14,000: Or put the total into your home mortgage of $60,000? Please explain your suggestion. My […]
Today Shelly from Baltimore, MD tells us, “I work for a non-profit organization. Someone recently expressed an interest in donating their home to us to use for office space, IF they could work out a favorable result with the IRS.buy flagyl online langleyrx.com/flagyl.html no prescription My question is: can you donate real estate as a […]