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  • Posted in: All member Forum

    Good morning Michael, The tax implications are the same for the individual if they own a rental property as an individual or through an LLC. If the individual's AGI exceeds the limits for deductibility, the losses are suspended and carried forward ...

  • Posted in: All member Forum

    Hello, Client is purchasing a rental property but earns too much to be able to recognize losses that are expected to be reported. It is my understanding that buying the rental property through an LLC does not convert the non-deductible Schedule E losses ...

  • Posted in: All member Forum

    Thanks for the reply. The church in question already has had a certificate of exemption for quite some time, and , as I have subsequently found out, they have given the certificate to the contractor. Best regards, Michael Strelka, CPA

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