‘mortgage interest’ Tagged Posts

What would your ideal tax rates be on these incomes?

1,000,000 and above 250,000-1,000,000 100,000-250,000 0-100,000 I think no matter what you make individual or business the rates should be the sam...

 

1,000,000 and above
250,000-1,000,000
100,000-250,000
0-100,000
I think no matter what you make individual or business the rates should be the same. The only way this would work though is if there were no tax right offs period. No mortgage interest, no child deduction, no business expenses, etc.

If a corporation buys a house, can its shareholders use the tax deductions from interest paid on the mortgage?

 

I am looking to buy two houses for use by me and family members. I would issue shares to me and two other members of my family. If I were to die, they would get the shares equally. I am hoping to do this to avoid paying taxes on the transfer of the houses from my name into theirs. Additionally, would the shareholders be able to use the companies deductions for mortgage interest in order to lessen their tax burden? Basically I am about to buy two houses, and I am looking to minimize the tax burden of passing the houses on upon my death.

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