Should I buy a property now?
Should I buy a real estate property now? Many don’t see the current market with high interest rates and high prices appropriate time to buy. However, waiting for lower interest rate and lower prices may be wrong for you.
Rental Deductions: What are the Rules?
Generally, rental deductions have straightforward classifications and are deducted immediately. However, expenses for repairs and improvements are difficult to classify and have different deduction rules. As a result, the IRS has safe harbors that simplify the deduction rules in certain situations.
Rentals: Choosing a Business Structure
Traditional LLCs and series LLCs have advantages for rentals, but the right LLC depends on your risk tolerance. Also, an S Corp election provides the same protections as an LLC, but it may not be advantageous for a rental.
Rental Losses: Can I Deduct them?
Deductions for rental losses can be against passive (earned with minimal effort) or ordinary (i.e., salaries and wages) income. The time you spend participating in the rental activity determines how you can deduct your rental losses.