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Who else is reeling under the pain of taxes?
Decided to payoff my mortgage.
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McKinsey & Company How likely is McKinsey to rescind an offer if there's a recession/downturn before my start date? Received an Associate offer with a start date early in the Fall. But I'm worried about the offer being rescinded due to the ongoing McK scandals/issues and a potential recession in the making (which may prompt them to freeze hiring and/or renege offers).
Has this happened to anyone before at McKinsey, offer getting rescinded due to economic/company downturn? A bit worried
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Subject Expert
It depends on if the LLC is disregarded or not.
Depending on your income, it may or may not reduce your TI
There is this thing called the corporate veil, and you are self-piercing it
Huh?
OP, you need an accountant. Eventually, it will flow up to you depending on how you’ve structured everything. So, yes, you’ll be able to claim them at some level, but you haven’t given a lot of context to go on here.
Subject Expert
Do you have a W2 job? If so, what is your AGI?
If not, do you qualify for real estate professional status?
Subject Expert
LLC doesn’t change the tax treatment, especially in a loss situation.
What kind of losses are we talking about here? Real ones, or “real” ones?
Subject Expert
You can report the loss, yes. But it won’t offset your ordinary income. It will carry over and offset future passive income.
Yes.