Vince Liu
Deduct Loss created by Depreciation Expenses
Hi Tax Experts,I learned in a article that you can actually use the loss created by your real estate investments (of course it's not realized loss) to offset your W-2 wages and other income. Is that true? Is there ce...
Ron Singh
section 179 deduction : split possible ?
Hello Hello ! Going for a business vehicle purchase and wondering: if the cost of vehicle is more than business ( property rental ) income in the tax year, can it be split in two consecutive years ?for example : Rent...
Weng L.
Tax for rental incomes from properties under LLC or S Corp
Hi all, I have a question on how tax is reported for rental incomes from properties under LLC or S Corp
Fannie mae and freddie mac limits each borrower to have no more than 10 financed properties. I've seen people me...
Leon Meytin
Tax deductions short-term rentals
Hello all, had a few questions regarding short term rental deductions1)For those doing short-term rentals, do you typically get the 20% Pass through deduction, and if so, how?2)Do most repairs (not large capital impro...
Billy Daniel
Depreciation vs Expenses
Hey BP! Given that it's tax season, I've been looking over strategies that I can use to reduce my tax burden. For those who rehab properties, how do you report your expenses? Can I write off my entire lumber bill a...
Stephanie Cristiano
Offset K-1 capital gains (RE syndication) with passive losses?
We have large unallowed passive losses carried over on 8582 (from several years cumulatively) from various real estate syndication deals reported to us on K-1s. For the first time in 2019 a few of those assets have e...
RJ K.
Heavy Truck/SUV first year full bonus tax deduction
I am a landlord with 26 units. I've sold a few of my properties and now will have a larger income. I am thinking about buying an SUV over 6,000 gvwr in hopes of lowering my taxable income using the first year bonus.
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Phil Baker
Mortgage interest write off on investment property
I’ve been struggling to get the right answer in writing off investment property interest. I thought investment property mortgage interest was tax deductible. My tax guy is telling me it is not. Does anyone have any in...
John Albertson
Tax strategy from business sale
Receiving a large 7 figure payout from the sale of a business. Would like to use real estate to lower my income tax burden. What strategies are available?
Navid A.
Deducting Business Expenses & the Standard Deduction
If you're employed with a W2 Salary and are investing in rental properties under a LLC (disregarded entity), would you even be able to make deductions if they add up to be less than the standard deduction on your pers...