15 June 2019 | 2 replies
I have a $2500 deductible with a $250,000 limit.
17 June 2019 | 9 replies
@Bryan Mills from my understanding c corps pay taxes on net income not gross income so operating costs and any gross income that gets reinvested or paid out for expenses to accountants, lawyers, realestate agents, debt repayments (the initial 4 million investment being repayed is debt for the corporation a d deductible) are all tax deductible.
20 June 2019 | 6 replies
No you can’t deduct the losses on your w2 unless you are a real estate professional
16 June 2019 | 3 replies
Suppose, I‘m getting $12, 000/year ($2k/month) after deducting all taxes and expenses.
16 June 2019 | 5 replies
They are learning bout limits, deductions, liability, etc.They meet with my attorney for my will and Trust, and know how they are set up and who will eventually manage what.They know that business is business and charity is charity, and are learning how to apply that.
19 June 2019 | 10 replies
First, you must meet the eligibility requirements to set up a Solo 401k: (i) you are self-employed; and (ii) you do not have any full-time w-2 employees (i.e. working 1000 hours or more per year) working for your self-employed business or otherwise working for you.
2 July 2019 | 51 replies
I don’t think any landlord who is trying to make a profit does You know what a real landlord would do...Cite the lease, fix the problem, and if you they don't pay deduct it from their security deposit.I don't think any landlord trying to make a profit wastes their time getting in texting battles with tenants over chipped paint, pal.
19 June 2019 | 12 replies
There is even a school of thought to use market rents then deduct 10% vacancy, then 50% expenses and that should give you NOI (rule of thumb).
19 June 2019 | 11 replies
The principal portion of your mtg payment is not deductible.