All Forum Posts by: Joe R.

Can I claim 100% bonus depreciation for tax year 2018 on a new air conditioner for a residential rental property?

@Michael Plaks

If I pay myself 100% profits at year end as a member of the LLC instead of a W2 as an employee monthly do I then qualify for the 20% deduction on the income?

@Michael Plaks

So if I pay myself only 25% of business income as a salary, then can I take a 20% deduction on the remaining 75% of business income???

I own 2 rental in my personal name but I have tenants sent rent payment to my LLC property management company. Will I qualify for the 20% deduction?

Also, I currently take 100% of my property management income as personal wages for my 1 employee LLC. Does this allow me to take the larger 50% of W2 wage benefit instead of the 20% deduction?

I own 2 rental in my personal name but I have tenants sent rent payment to my LLC property management company. Will I qualify for the 20% deduction?

Also, I currently take 100% of my property management income as personal wages for my 1 employee LLC. Does this allow me to take the larger 50% of W2 wage benefit instead of the 20% deduction?

Is a witness signature field required at the end of each tenant lease?

This blank field is currently next to the Tenant signature and the landlord signature fields on a lease document I am customizing.

If witness signature field is required, who qualifies as a witness? 

anyone? or does it have to be a notary?

Can I witness the Tenant sign and the tenant witness me sign?

I own a property in my personal name that is insured under my personal homeowners policy and also an umbrella policy. However, I operate the property management under an LLC.

Do I need a separate insurance policy for the LLC that manages the property?

If so, what coverage do I need? and where can I purchase?

I currently have a HELOC on an investment property I own.

I recently purchased another investment property.

Will banks/lenders allow me to take another HELOC on the new property?

If yes, can I expect a higher rate than the 1st HELOC or any other issues?

I currently have a HELOC on an investment property I own.

I recently purchased another investment property.

Will banks/lenders allow me to take another HELOC on the new property?

If yes, can I expect a higher rate than the 1st HELOC or any other issues?

I bought a rental property cash. I now want to use my cash equity to buy another property to buy another. How can i do this?

I cant refinance as there is no mortgage and my local bank told me they will not give a HELOC on an investment property.