Are all costs of rehabbing a new property considered capital improvements? What about the expenses to clean and repair a unit between renters - like carpet, paint, etc?
Reimburse the interest and make it deductible.
We have a C Corporation and an LLC. Do you recommend purchasing or leasing cars? Should that be done by one of our entities? If so, which entity?
When selling your business and trying to minimize the taxes on the sale, is it possible to do a Section 1031 like kind exchange?
If my spouse and children help me with the sponsorship of a 2-day event that's located in a town that requires an overnight stay, is that trip deductible?
I would like my kids to work for my LLC and use the funds to pay for private education. How can I do this within my LLC or personally?
I have an S Corporation which is currently not making any money. Should I keep my S corporation open to pay for expenses?
I have a trading business and hold it in an LLC. What is the best structure for when I attain "trader status?"
I have a vehicle that I own outright. Should my LLC that I use to travel to rental properties purchase my vehicle?
My specific question pertains to buying a truck for my business. I thought there was a certain weight where we could depreciate the vehicle. What are the guidelines for that?