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Updated over 11 years ago,
Marketing costs a tax write off?
Hello everyone, and I apologize if this has been discussed many times before; I just can't find the answer to this question.
I am currently working a full time job. Also, last year I purchased a 3 family (in my personal name). The property is cash flowing really well, and has been a solid investment. The tax benefit was good last year, but will be even better this year.... And certainly helps with the w-2 income.
I have also been marketing very heavy, and the costs of this are adding up. I am wholesaling some of the leads.
My question is this: even though I have not formed an LLC or any kind of entity, is it still possible for me to write off the costs of yellow letters, list brokers, bandit signs, stamps, printer ink, newspaper ads, etc? I do have a very good CPA that also invests (so he's familiar with RE investing), but haven't asked him yet.
I plan on forming later this year once the deal flow materializes a bit more.
Any help would be great! Thanks in advance.