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The Tax Treatment Of Mixed Personal And Rental Use Of Real Estate, Natsua Asai
The Tax Treatment Of Mixed Personal And Rental Use Of Real Estate, Natsua Asai
Journal of Undergraduate Research at Minnesota State University, Mankato
In 2010, individual taxes provided almost half (43.35 %) of the U.S. Federal Revenue. Every U.S. citizen has an obligation to pay tax in order to support their government; however, they also have the right to keep tax as low as possible by effective tax planning (Smith, Harmelink, & Hasselback, 2012). Tax planning is a proper arrangement of transactions or affairs in order to reduce tax liability. Tax planning can become complex if the transaction involves multiple areas of tax law. I am going to discuss an aspect of real estate that involves multiple concepts and rules governing tax compliance: …