Rentals

Beware: IRS Error in Rental Property Deduction Publication

Here’s a heads-up on mortgage insurance. Personal Residence Mortgage Insurance The deduction for mortgage insurance on a qualified residence ended on December 31, 2017. But don’t give up on the deduction. The personal residence mortgage insurance deduction is part of what is called “tax extenders,” and it’s highly possible that lawmakers will reinstate the deduction […]

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The Basics of S-corps

There’s an old Morgan Stanley slogan that says “You must pay taxes. But there’s no law that says you’ve gotta leave a tip.” That’s a great attitude to keep in mind as we work through all of this material. Self Employment TaxesLet’s start with the problem we’re looking to solve, and that problem is too

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