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Updated almost 2 years ago on . Most recent reply
Tax for property purchases
Hey
I live in California, i'm investing in Dallas, TX - im planning to buy Single Family Home properties
I have my own S corp company here in CA and i opened LLC for investments
i didnt stared yet and i didnt bought my first property.
From tax perspective, its helping me in any way of having investments in Real Estate (even if its not commercial)?
I heard that only for commercial you get tax deductible.. can you explain
Lets say i remodel and have 50K to pay to contractor, this payments will go of course will go from my S Corp, end of year we need work on taxes,, its deductible ?
Im asking because i dont have any knowledge with how its affect on taxes.
Thank you !!