We owe what have achieved so far to the careful research we conducted on the properties location as well as the network we had developed and have since expanded.

In looking back at my tax records, I did not “abandon” the property, I just had no rent to claim the next years, in 2021 and forward.

Most of the coast is unjust toward Landlords, higher taxes, and other negatives.

When looking at an LLC, or any entity structuring, there are two angles to consider: tax benefits and asset protection.I frequently see asset protection lawyers recommend an LLC for each rental property owned for liability purposes.

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

You will likely still owe their fee for the amount of work they've already done if you choose this year however.

Which would be the best way to structure this while avoiding tax charges?

The entry-level Quickbooks Online software itself is expensive $250/yr... that's not even adding up potential books/courses, CPA fees or personal tax filing software like Turbo Tax.

Hi All,I have a question for those of that are tax savvy.

The claim check is way over what I owe on the mortgage.