A good rental property strategy will not only to build an incredible long-term and sometimes immediate tax strategy, it will inevitably build wealth for future retirement and should provide current cash flow benefits if you choose wisely.

People are often surprised that one of the worst things they can do is transfer their property and miss out on important tax and family planning strategies.

This has to be one of the most under utilized tax strategies by small business owners with families today. Many don’t realize that paying their children under age 18, as well as adult children or grandchildren, is an excellent strategy to minimize their tax liability, not to mention it creates a host of other ancillary benefits.

I too wish the tax code was simpler, but it’s not. If you are getting notices from the IRS and your spouse didn’t pay his or her fair share and you’re getting stuck with the bill, this could be a solution to your mess.

I encourage all of you to ‘at least’ consider buying one rental this year (in or outside of your retirement account) and determine if it is a good fit for you.

With the difficulties that have arisen in the lending market and a typical

Now of course, we realize that not everyone is in the proper stage of life, has the resources, know how, or even the proper mentality it takes to be a property owner. However, whenever possible, it should be considered as part of a comprehensive financial and tax strategy plan.

I’m often surprised how many taxpayers get fixated on being a Real Estate Professional as their primary tax-planning goal, while others avoid it like the plague. Yet, there are still others that don’t even know what the fuss is all about.

Real Property Matrix which provides an objective method of evaluating whether a particular property is worth keeping depending on whether or not the property is underwater, and whether or not the property produces reasonable cash flow.

A taxpayer’s marital status for the entire year is determined as of Dec. 31. A taxpayer who gets married (or divorced) on that date is treated as if he or she were married (or single) all year long.