Post a new topic
    1 Reply Latest reply on Sep 4, 2009 1:10 PM by LUCKIEST

    Passive Small Business License Investment Property

    kenp11 Newbie
      Hi,
      The county where i have my investment property rental charged my a $60 a year license to do business in the county. Does anyone know how the IRS treats a passive business license(Investment property). Is it treated like a regular business for write offs if it is making a profit?
      Can i write of time for researching and attempting to purchase additional investement property? Can this business qualify me for SEP-IRA contributions from the profits or from any other source?
      If anyone has had experience, please let me know.
      Thanks