Yes I am also a "Creative CPA" Send me your taxes! I will make it really interesting for you this year!
Seriously: Fact is I may have exaggerated the numbers slightly but the scam works on a certain level.
Sorry you are loosing a sheep-ton of money as a land lord if you don't realize:
"You can claim the same deductions on a vacant rental as when it's occupied. Your mortgage interest, maintenance, repairs, homeowners insurance and the cost of advertising your rental are all deductible. " also: "A special rule lets you deduct up to $25,000 of losses from rental real estate in which you actively participate."
And "accounting" just means 'fudging with the numbers' for these people.
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BMC Race Machine / BMC Team Machine / Rossin Record / 80's Pinarello Traviso / Merlin MTB / Raleigh "Folding 20" / Ti-Swift (!)
Erikson w/C&C couplers / Trek's: 2300, 1200, 990 / Jamis 'Sputnik'
Last edited by kraftwerk; 03-08-19 at 09:28 PM.