News & Articles

The Financial Rewards of Buying a Condo for Your Kid's College Housing

Posted on Wed, Jul 13, 2016

With real estate prices recovering in many markets, it might make sense to buy a condo where your child can live during college. He or she can live there while attending school, and you can avoid "throwing away" money on dorm costs or rent for an apartment. If you buy a place that has extra space, you also can rent it to your child's friend(s) to offset some of the ownership costs.

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Tags: Real Estate Taxes, College Expenses, PAL, Second Home

Court Decisions Make It Easier to Deduct LLC Losses

Posted on Fri, Oct 31, 2014

What happens if you're the owner of a limited liability company (LLC) that generates tax losses, and you don't spend a lot of time in the activities of the business? The losses might be classified as passive, and your ability to currently deduct them might be severely restricted by the passive activity loss (PAL) rules.

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Tags: Tax, EHTC Article, Business, Tax Court, loss, IRS, Newsletter, Articles, LLC, PAL, passive activity loss, Taxes