Peter Marriott
Problems with our Current Rental and Deciding Whether to Sell or Not
21 January 2025 | 2 replies
That will cost us about $4.8K out of pocket (our insurance deductible under our Rental Dwelling policy).
Todd M.
Inheriting tenants and no move-in inspection
26 January 2025 | 5 replies
They can fix them to get their SD back or you can deduct that without them saying "it was like this before".
Neeta Agrawal
Asking for Security deposit after 1.5 yrs
4 January 2025 | 7 replies
On June 7th, we sent an itemized list of deductions via text; he responded on June 8th, disagreeing and threatening legal action.
Alicia Howard
RV Depreciation for 2024 taxes
15 January 2025 | 5 replies
This also makes it eligible for bonus depreciation (60% in 2024) or Section 179 deductions if criteria are met.However, if the RV is permanently affixed to the campground site and functions as part of the real estate, it may fall under residential property classification and depreciate over 27.5 years.
Chris Shon
Do I need a Real Estate Tax Accountant?
10 January 2025 | 16 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.
Katie Miller
If you use a CPA or Tax Professional, how did you find him or her?
19 January 2025 | 119 replies
Once I get to a point that it is making enough per month that I feel comfortable taking money out of the business that would be when I get to the point that it is worth have a specialist assist me in all deductions, credits, and future items that will help me to transfer from a W2 to working for myself fully.
Melanie Baldridge
A post on recapture.
21 January 2025 | 2 replies
We generally advise our clients to go ahead and pay the recapture rates if death is the alternative.The good news about recapture - the deductions are a deferred tax liability to you, and an interest free loan from the government.
Jason Sung
Water leak at a bathroom and insurance claim (Safeco)
15 January 2025 | 6 replies
I have landlord insurance with deductible $2500. the house has continuous flooring, meaning the entire house has same LVP.
Elizabeth King
Does my property have to be in LLC to benefit from real estate tax advantages?
2 January 2025 | 10 replies
Is my accountant accurate in stating I cannot deduct the expenses related to the property if it's not listed in an LLC?
Kyle Jenson
New Dentist looking to create a retirement plan for myself thru real estate
24 January 2025 | 15 replies
I buy real estate but I carry debt which is actually tax deductible, my money works for me.