Usually, the inventory change statement is needed to explain the difference between your recorded and actual inventory. It makes me wonder if you made an adjust...
The rental must be available for rent before expenses can be deducted. Even if you had no renters, if the property was available for rent in 2024, you can deduc...
Unfortunately, there is nothing that can be done from a tax perspective.The interest paid is not deductible because it was not used to buy, improve, etc. of her...
My suggestion would be for each SMLLC to collect rent and pay its own expenses. The reason is that this way it will not blur the entity separation. Better for a...
The simplest way to go about it is to take your 2024 state liability (line 11 on IN IT-40), multiply it by 110% (depending on your income, you could do 100% ins...
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