Peter Pope
How to claim depreciation on taxes?
Hello all, this will be the first year I’m able to claim depreciation on 1 of my properties as it is a rental now. What do I need to do when filing my tax return? I like to keep it simple and see the same tax preparer...
Ori Skloot
How Much Do You Pay your CPA for Tax Preparation?
Hi Folks,How much did YOU pay your CPA for tax preparation and filing 2016 taxes?I just got my bill from my CPA for preparing my 2016 taxes - $4,200. Feels steep to me. I am filing in California and I bought one n...
Lucas Hammer
Concrete work - expense or improvement?
So I'm in the process of having a bunch of concrete repaired and some of it replaced. It doesn't add value and is just fixing/replacing cracked spots in an existing retaining wall and some stairs, so I guess I'm tryin...
Alex Bock
Aspiring investor in Davenport, IA
Hello Bigger Pockets community!Long time gawker, now I have finally decided to create an account. I am located in the Quad Cities (Davenport, within vicinity of Bettendorf IA, Rock Island and Moline IL). I have been e...
Joel Cannonball
S-Corp Election Form 2553 for new LLC
I recently formed a new LLC that will be involved in buy/sell, and buy/hold transactions. I read around online that stated I should go ahead and file form 2553 to be taxed as an S-Corp. I called a CPA for advice on it...
Michael Torossian
CA Eviction - 1st timer
Hey gang, need your advice.. I have a tenant that has not paid rent for over 4 months starting Jan/2020 - Pre-COVID19. We retained a law firm to help with the process, and they have served the CA 3-day notice to pay o...
TJ McDonald
Advice on responsibilities in operating agreement for partners
I have a residential real estate LLC with three properties. Someone is going to buy out my current partner and become my new partner. I am making list to designate each of our responsibilities. I am also working with ...
Paul N.
Deed recording question
Hello, everyone. As I mentioned in my introductory post, I had purchased
my first piece of RE last month, and have a special warranty deed recorded in my name, which was done by the seller and prepared by his attorne...
Larry Nielsen
LLC Tips for Real Estate Investors
Hello, looking for tips on LLC formation for real estate investors. Can I use a previously existing LLC? Would I need to re-write the operating agreement if it was not previously used for real estate? Should I start a...
Kayla Pronesti
Looking to change cpa
Hi guys,
BRadenton/Sarasota I am looking for some cpas who are very knowledgeable about real estate, llcs and personal tax returns. I have a random questions that I want to make sure I am doing the right things thro...