[…] Pre-pay 2017 property taxes on your personal residence. This is not an absolute rule, but it should be a wise move for most people, not just investors. Because of the new law, you may lose the tax benefit of property taxes on your homestead. So make sure the bill is paid in 2017 […]
[…] I’m not too alarmed. First, this change (IF implemented) will only affect companies that are designated as “a trade or business.” This term has been often used in the current tax law – but never defined! It led to numerous lawsuits against the IRS, with inconsistent results. Basically, it’s grey area […]
[…] Now, who would walk away from this juicy deal, may I ask? Answer: anybody with a basic understanding of IRS taxes. Here is the deadly trap I was referring to: the IRS will tax Andrew on his entire… […]
