All Forum Posts by: Taylor Brugna

Kevin Myhre This sounds awesome! My parents are out in Suffolk County and I could definitely make the trip there for the day.

Jenessa NeSmith I'd recommend finding somebody on BP who specializes in real estate, there are plenty of CPAs on here that are excellent. Airbnb rental income is a relatively specialized area and you want somebody who sees clients with short term rental income regularly. Hope this helps

@Kurt Kwart The 10k limit is only for your personal residences and state income taxes, not your rentals. I'd definitely recommend paying your property taxes on your primary residence if you think next year you'll state tax liability plus your property taxes will be over 10k. 

For your rental properties, it's a case by case basis. Are you able to use passive losses? Did you have a great year and need some more expenses to offset some of the tax? There also is value to having tax savings now vs next year because that savings can be invested and grow over the year. 

@Todd Willhoite It won't matter when you draw on the HELOC, what matters is what the funds are used for. If you are using the funds to buy rental properties, the interest will be "traced" to the rental property and it will always be deductible.

@Catherine L. I like the refinancing option as well. The interest expense is also deductible if you use the funds to buy rentals. 

@Hernell D. The standard deduction increased to 24k for married filing joint and 12k for single filers. 

Hey @Dean Fiacco,

I'm also from NYC! Highly recommend @Jeff Copeland as well. Awesome to work with and knows the market very welll. 

Sheila Reyes I use NREIG and have been happy with them, check them out. They bill monthly which is a nice feature, it avoids having to keep track of annual policies. I have not had to file a claim yet though.

Amir Magar Welcome! I love Ridgewood (I lived on FPR) as a market to invest in-I think when the L shuts down the values are going increase dramatically. I've met a ton of people that are priced out of Williamsburg, like the vibe of Ridgewood, and still need access to Manhattan. Good luck!

@Allyson Gehring highly recommend @Jeff Copeland!