The fact that petitioners did not hold legal title to the property at the time that the work occurred does not negate its relevance to our inquiry, especially given the real property laws of the State of Florida.

FORBES: Real Deductions for an Imaginary Beach House

Although the house was leveled and the lot was cleared before petitioners received legal title to the property in March 2006, the work would not have occurred had petitioners not bargained for it in the purchase and sale agreement.

FORBES: Real Deductions for an Imaginary Beach House

Rather than file amended Federal income tax returns for the years 1997 and 1998, Dr. Liljestrand and his advisers decided to treat the partnership as having commenced business on January 1, 1999, even though legal title to the real property had been transferred to the partnership by December 1997.

FORBES: Family Limited Partnerships Require Good Planning and Execution

Lack of legal status and title to property keep entrepreneurs marginalized from, among other things, credit institutions and protection by the justice system.

FORBES: Making Business Work for the Poor

This is 100% legally possible by learning how to effective title property and how to conduct business under non-statutory entities (legal entities not circumscribed in the statutory jurisdiction).

FORBES: How To Cut State Death Taxes -- Without Moving