I sent him an email informing him that I was deducting the cost of the repair from his SD.

Once the home is under the LLC Ownership, am I able to deduct expenses/mortgage interest payments from my own personal W2? 

It's made those decisions on whether to host a guest with no reviews a lot easier when you know you have recourse to deduct their deposit if they misbehave.Get a good cleaner who communicates with you. 

I usually structure my property management payouts by deducting the cleaners' fees from the gross revenue first, then taking my percentage from the remaining balance. 

We plan to deduct 1/5 of the total ($2444.80) on the Schedule E for each 1-BR unit.

many people don't necessarily have the time or skills to do their books*REI specific tax efficient advice to include business structures, 1031, depreciation, deductions, etc.  

Hey Alan,As a landlord there are tax deduction benefits that you would have. 

For a TX real estate pro, Michael is an obvious choice of tax pro.Prior to pulling the trigger on a Cost Seg study, you should evaluate 2 things:1 - How much net additional deprecation tax deductions a Cost Seg study would provide: Best way to get this is by requesting a free feasibility analysis from a Cost Seg provider.

Tom's philosophy in general is to figure out how to deduct EVERYTHING.

Can I deduct the closing cost in my rental property taxes for 2023.