Good afternoon friends, I've been combing through the forums looking for recommendations on the best/most recommended bank accounts to use for rental income but have not had any luck. So I figured I'd post this and se...

I'm wondering how to classify my mixed-use property on schedule E. It has 6 units, 5 residential and 1 commercial and naturally it would be advantageous if I could classify the property as residential and be able to d...

I would like to make use of the special allowance.  However, I would be filing as head of household.  Would that mean that I would only receive a $12,500 allowance?
This is what the IRS writes:
Special $25,000 allow...

hey i need advice from a cpa. I plan to start marketing for my wholesaling business and will also need printer pc etc. How do i go about doing that I have one rental now which i conduct all my rental related costs un...

What is the best way to setup up bank accounts for rentals.  I have my main personal account.  I also have another bank account at a different bank just for closer convenience.  I have a 3rd bank that I just opened up...

Any of you guys in a state that allows series LLC use them? There is not much info from the IRS on these new entities and I am getting slightly different information from my accountant and attorney. Do you have t...

I have an LLC with 2 - DBA companies already listed under it.  I have 5 properties and want to start a new Property company.  Should I start a new LLC for the property company and then separate each property as a DBA ...

When getting an owner’s statement from your property manager, how do you have them break down your smaller, monthly expenses vs. big ticket items? Do you pay for big projects separately or does it show up on your mont...

Hi everyone,  quick question, once the rent is paid, what do I do with the money from "variable landlord paid expenses" (calculated by BP rental property calc) like Cap Ex, repairs, vacancy etc..? Do I open a new acc...

Quick hypothetical question for Tax Pro's out there:If you have purchased a lot to build a home on, when does the one-year clock start to switch from short term to long term capital gains?Does it start when land was a...