Tag: Real Estate

There are quite a few uses for raw land. It can be used for just about any type of business activity. If someone purchases raw land and starts to take steps to prepare the land for a business, how one characterizes the intended business use can allow or limit the deductions related to the property.……

It is often said that bad things happen in threes. This is a nice way of saying that too many bad things have happened in quick succession, so hopefully, the person will not suffer further calamities in the short term. Tax attorneys view calamities in terms of tax losses and/or net operating losses. As tax……

Tax cases are interesting in that they apply a fairly well-developed set of rules to varying fact patterns. These varying fact patterns can result in surprising, and often unintended, consequences. The more complex the tax law in question, the more likely it is that the outcome will be something other than what Congress may have……

We all have financial ups and downs in life. Some of these ups and downs are due to circumstances beyond our control. Be it good luck, bad luck or something else. Many of these circumstances are not foreseeable. There are also circumstances that are due to our own making. Be it poor financial decisions or……

If you move out of a house and rent it to a friend for less than fair market value rent, can you then take a tax loss on the subsequent sale of the house? If the home is not converted to a rental property, the loss is disallowed as a personal tax loss. If the……