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Updated almost 5 years ago on . Most recent reply

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12
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Joe Einbinder
  • Minneapolis, MN
0
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12
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Income taxes on rental properties

Joe Einbinder
  • Minneapolis, MN
Posted

How much of your profits are eaten up by income taxes on rent paid each year?? I know you get deductions for depreciation, and maintenance but even after that, it seems like any profits would be eaten up and possibly make for negative cash flow. PLEASE HELP SQUASH THIS QUALM!!! I REALLY WANT TO INVEST!

Most Popular Reply

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8,132
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3,658
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Basit Siddiqi
  • Accountant
  • New York, NY
3,658
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8,132
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Basit Siddiqi
  • Accountant
  • New York, NY
Replied

@Joe Einbinder

You should have the tax return prepared by this accountant reviewed by another accountant.

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Basit Siddiqi CPA
4.9 stars
74 Reviews

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