Terry Hollinsworth
Do contractors usually charge tax for insurance claims?
Insurance agreed to pay 21K to replace roof. After we gave the contractor our insurance papers he charged quoted us: Roof replacement costTAXO&P (Overhead and Profit) His quote convinently came out to 20K. Do cont...
Jason Dukhi
Tax Implications on Out of Pocket Insurance Claims
I own an investment property in Florida. Hurricane Irma had damaged the roof and through the advice of my property managers we did some patchwork repairs in 2017. Unfortunately, while the house was being listed for ...
Patrick Dundon
Claiming Taxes and expenses with a business partner
Hi All!,My business partner (friend) and I have closed on three properties this year. We are simply 50/50 owners of each property and do not have an LLC. My question is when we claim expenses for the properties will ...
Johnny Bowen
Buying property while being claimed by parents taxes
Hello everyone,
This is my first post on here but I have been educating my self on here for months. I am 20 years old full time college student living on campus here in Orlando, FL majoring in Hospitality. Due to amou...
Jake Paul
Quit Claim Deed - To avoid capital gains tax?
Similar post from before...but would this legally work?I co own a property with my brother (75/25) on title. I've been living there for 2 years now. He lives in his own primary. We want to sell and hold the funds for ...
Damian Hill
Quick Claim deeds/taxes repos to get started???
Hello everyone,
I am a prospective investor with little (or no assets) and I have embarked on getting my feet wet via quick claim deeds and or repossessed homes in which you can take over the title from simply paying...
Danielle DeCormis
Quit Claim Deed to LLC Tax/Legal Question
I am looking to purchase a property that falls under the minimum limit for DSCR but qualifies for a conventional loan. If I purchase this and quit claim deed it to my LLC, who pays the mortgage? Me or my LLC? Does t...
Matt M.
Claiming tax-returns or exemptions on home repairs?
How would such a thing work? I've heard that if you make repairs to the property that you can claim exemptions on taxes and get the a percentage of the repairs back come tax season?
Nathan Frost
LLC Address (What is best for security)
Hi, I have a few rental properties in my LLC name, however, I looked them up on the county website and it has my primary address for the LLC. This is correct but what do you all recommend for protection as far as th...
Karen Polis
IRS liens on Tax Sale, Montgomery Co. PA
I'm looking at a property that's going up for tax sale and I see it has 2 open IRS liens on it. I know in other states, such as FL, the IRS has 120 days to redeem the property - they pay you back what you paid plus 6%...