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Updated almost 7 years ago,
Best way to deduct meals, vehicle, etc. on taxes for landlord?
I am actively seeking investment properties (buy and hold) in the Raleigh, NC and surrounding areas (A & B neighborhoods predominantly) and need insight regarding how to structure an entity that is tax advantaged. Currently when I meet with real estate professionals, interview contractors, discuss investing in real estate with friends/family I cannot write off any of the expenses on my income taxes - some of my friends who own businesses write off a reasonable # of meals (where business is discussed), they also write off their vehicles and other expenses that pertain to their businesses.
Any insight from REI's who have experience? Appreciate your help.