The common types of ownership structures in real estate are owned as an individual, in a corporation, in a partnership or in a joint venture. The type of structure generally depends on the purpose of the use.
- Less complexity but income is taxed at personal tax rates which can be the highest rates.
- Any losses incurred can be offset against any income.
- There is no liability protection for the individual besides the insurance policy on the property.
Hurricane Harvey has been devastating for many Texans. It could prove to be even more devastating if you haven’t filed your income tax returns in several years and you lost your important papers during the storm.
Even if Harvey wiped out your important papers, your tax filing delinquency will not be forgotten by the IRS. Read More
During 2015 readers of TaxConnections Worldwide Tax Blogs arrived from more than 200 countries and spent an average of 12:45 during each visit. These are mighty numbers and they are due to the tax experts who joined our community and submitted their tax expertise and blog posts throughout the year.
We would like to congratulate our top tax blog contributors and link you to the top posts this year. We are grateful for the journey we made with you throughout the year and look forward to enjoying a successful 2016 with you.
Check out the top 20 Tax Blogs in 2015!
Story of A Good Citizen Who Reports Foreign Bank Accounts But Forgets FBARs! Huh? – Manasa Nadig
How To Live Outside The United States In An FBAR And FATCA World – John Richardson
Read This Before Tossing Old Tax Records – Barry Fowler