When it comes to buying a house in the United States, affordability is often the most significant roadblock. The concept of finding a place to call home without breaking the bank is a challenge many Americans face. Concerning the main thrust of this article – the cheapest places to acquire property in the US – […]
How does the irs treat renting a property to a family member?
Renting out property to a family member can be a nuanced matter when it comes to the IRS. The crux of the issue lies in whether the IRS considers the transaction to be a rental activity with the expectation of profit or merely a family arrangement devoid of tax significance. The IRS scrutinizes these arrangements […]