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28 January 2025 | 56 replies
My check was 149.5 after deductible.
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29 January 2025 | 20 replies
. $50 per bedroom, so a 4-bedroom house will cost you about $150~200consumables - bathroom supplies, kitchen supplies, beverage supplies: $20~30 per week, depending on how much you providewear and tear - towels, linen, kitchen utensils, some furniture: $1000~2000 per yearRepairs/replacement for things that guests break or steal: $1000~2000 per yearAlso, if your personal use is less than 14 days a year, the entire property's expense is deductible against STR income, but if you use more than 14 days, then you will have to calculate the proportion of how many days it's rented out vs how many days you or your family uses.
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29 January 2025 | 22 replies
These properties can appreciate in value and offer tax benefits like depreciation and mortgage interest deductions while financing terms are often favorable.
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14 January 2025 | 21 replies
Bigger Pockets is a great place to find a real estate tax accountant.A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.
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18 January 2025 | 16 replies
Use tax benefits like depreciation, repair deductions, and tax-free refinance proceeds to offset income, and consider an LLC for liability protection.
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22 January 2025 | 12 replies
You're giving up some good tax benefits since you're in the tier of taking itemized deductions.
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3 January 2025 | 5 replies
I THINK you could probably just expense your deductible if insurance didn’t cover 100%.
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6 January 2025 | 2 replies
Would it be better to do some remodeling and deduct those costs from the sale proceeds, or should I foreclose and sell the property "as-is"?
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3 January 2025 | 5 replies
You only want to file a claim if it's much greater than deductible or your rates shoot up pretty quickly.
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7 January 2025 | 7 replies
I go with the highest deductible possible.