In a recent post about how to minimize the taxes on rental income it was mentioned that: Setting aside reserves is an expense, so long as they are not excessive.

I’m debating if I should implement rent increases for current tenants during lease renewal, even if it’s just $25/month to help keep pace with increasing costs and taxes. 

In general the holding cost I estimate are utilities, loan payments, taxes, and up keep costs for example.

Hello, I am wondering if anyone knows of a few CPA's with lots of rental property experience to help me sort out my first year of taxes and deciding on an LLC in the Denver/Littleton area.

But I am not a tax specialist.

Accountants are in such demand, that the best are not even accepting clients half the time.The other problem I see often with accountants on here is that they specialize in larger investors, and have really high prices when you as a smaller investor do not need all the bells and whistles.Another thing I see is folks thinking they need to have a tax professional in their state.

I made 120k in equity last year with the sale of the houses but because of how stupidly our business was set up, Our tax guy suggested my partners give me most of my equity as a gift because we didn't want to get taxed on it twice.

They are both listed on title of the property and my wife has been using it and paying primary residence taxes on it. 

You can try to use their taxes for verification but it is still difficult, CAP rates will not reflect tenants that need to be evicted.Hopefully, this has been helpful in providing some additional aspects that are unique to CAP Rates and Mobile Home Parks. 

Once again, we find another recession indicator flashing red.Given the multitude of economic crosscurrents, it’s crucial to seek the best assistance available to mitigate taxes, and manage expenses to navigate through potentially turbulent times.