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ILLMAS

By ILLMAS
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Lee B

Lee B

Posted
Posted

The problem is that the definition of a trade or business is not based on rules & regulations but on an aggregation of administration guidance and a number of court cases,

some of which happened decades ago. The peace of mind that you are looking is not currently available !  Perhaps clarity on this issue will evolve over the next ten years.

 

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Lee B
Lee B

I think you have prejudged this situation. The name of the presenter and coauthor of the seminar I attended yesterday is Christopher Hesse, who is a National Tax Partner for a National Accounting Firm

Randall
Randall

I'm still confused.  Who owns and rents property without a profit motive?  It seems like it would be a trade or business even if it is not your primary job.  Most of my clients with rentals have losse

Randall
Randall

With taxes, I wonder if one has 20-30 years experience or one year experience 20-30 times.  

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