Sundeep Bhatia
New Member - Depreciation vs. Expense Question
Hi All,I am a new member who happened to stumble upon this site recently. I've learned quite a bit so far as I got into the rental game after I moved and didn't find it financially sound to sell my first place and ren...
Dillon Dull
Write offs/expenses VS. Remaining profitable
So I have been thinking about this for some time. It seems like everyone tries to do everything in their power to increase their expenses and write-offs in order to not show any income to pay taxes on for their busine...
Jason Hutcheson
Overhead expenses on Forms 1065/8825?
I've got an LLC taxed as a partnership with one additional partner. Renting real estate is the only business activity the LLC does. I'm looking ahead to Form 1065 and the associated Form 8825. Although we track exp...
Wendy Black
Need Advice- Too Expensive Bathroom Repairs
We're in Phoenix and have owned a rental in Oceanside for quite a few years. It's a beautiful home (in Rancho Del Oro) and hasn't been vacant a day, but we've had several issues through the years with the plumbing. We...
Carson E.
Tracking Expenses on numerous rental houses
We have close to 30 rental houses and trying to run the books on them gets beyond tedious. We use the Wave app to take pics of our receipts and then process them at a later time. Now our CPA wants items broken out b...
Andy W.
Expenses not specific to any property
I have two rental properties (1 single family + 1 two-unit), but this is the first year I've encountered tax season as an RPO. I have a CPA I intend to have file my taxes, but it sounds like they're not expecting me t...
Blake Alexander
Expensive Multi-Fam w/ 10% Down
Hey BP!I have a client who is looking to buy a 4 unit multi-family with 10% down. The issue is prices in my area generally require 40%+ in order to cash-flow. There are also rent controlled tenants in many of these bu...
Eric Etzler
Best Credit card for tracking expenses?
We basically are rehabing buy and hold rentals. Currently we are using a Home Depot Commercial Revolving Charge card for the majority of our purchases. I like the detailed billing statements. We are in need of an ad...
Katlin H.
Analysis without all the itemized expenses.
Hello All,
What is your work around for your initial analysis of a property when all the expenses are not available?
For example purchase price of $324,900
Gross Income:$49200
Expenses: $8000
Net income:$41200
Cap r...
Sarah Lawrence
deducting expenses when properties fall through
Hello. I am wondering how everyone deducts their expenses when offers fall through such as wire fees when they do not have ownership of that property for tax purposes.