Get these two tax books

[David Beard]

They'll provide answers to 99% of any tax questions you may have, and help you to be much more effective in developing strategy with your CPA. Don't give short shrift to the tax situation, they can have a profound economic impact on your investments.

I throw this out because folks often come on here with VERY basic tax questions. You need a grounding in it before you do ANYTHING in real estate.

http://www.amazon.com/Every-Landlords-Tax-Deduction-Guide/dp/1413316417/ref=sr_1_3?ie=UTF8&qid=1320346062&sr=8-3

http://www.amazon.com/J-K-Lassers-Real-Estate-Investors/dp/0470443472/ref=sr_1_1?ie=UTF8&qid=1320346143&sr=8-1

[Account Closed]

I have checked both of these books out in the past. They are good resources and can help any investor understand the major points of the law.

They don't cover everything by any means but shed light on many of the tax areas affecting investors.

Anyone that has dug into tax much realizes that the rules and regulations are only a small part of the law. There are many tax cases, private letter rulings, Tax memos and other IRS & Treasury documents that can add insight or confusion.

A good understanding of the rules can help investors through out the year. Waiting until the end of the year to consider any tax consequences can be a huge mistake especially if you are buying and selling property, do a 1031 exchange, have involuntary conversions, or need to make any major expenditures.