Miche Crise
Repair Expense Due to Tenant Misuse
To charge or not to charge, that is the question...
I'm trying to be less empathetic when it comes to most business decisions. I also try to enforce the lease as letting things slide is a slippery slope. I wondered ...
Adam Craig
How to track Home Depot expenses?
Right now we have 5 rehabs going on and I have 4 business credit cards spread out between different contractors. They all purchase 90% of supplies through Home Depot. Rather then having them save every receipt - is t...
John Thedford
Central Air Repair Expenses Seem High!
Had a call stating a central air unit was not cooling. I don't have a specific company for this type of work. Was referred to a company and had them go out. Received a bill for almost $190. That seems like a LOT of mo...
Sue K.
Deducting travel expenses in property searches
What expenses are deductible when traveling out of town to look for investment property? What evidence must you provide IRS that it is a legitimate search for property?
Joe Splitrock
Electric Car as a Business Expense
We are in a situation where my wife is soon to be quitting her job to focus more on the rental business. My daughter will be getting her drivers license this year, so we will need to add a third car. We could probably...
Stephen Mendoza
Tax deductible expenses for researching properties?
Under the assumption that there are no "dumb" questions...I am a newbie to real estate investing. Are the expenses I incur researching properties tax deductible? What about mileage expenses when driving out to vario...
Robert Smith
Chicago south suburbs SFH rental expenses
Hey BP, I recently started working with an agent who works in the south suburbs of Chicago (Homewood, Hazel Crest, Matteson, Lansing, etc). We are still feeling each other out but I can tell he knows way more about in...
Jason Aycock
Operating Expense Breakdown (Line x Line)
I'm sure this has been discussed before, and if anyone can find those discussions, please share the links. Can some BP members please share their Operating Expense breakdown as %'s of the total expenses, NOT includ...
Michael Chavarria
Expenses from 2016 on 2017 return
Hi, I realize that I need to speak to a CPA but I am trying to figure out as much as possible before I do so. Any help is appreciated. In 2016 I started a single member LLC. I purchased a property in June but it was...
Leonard Holmes
Expenses Not Associated with a Property
How do I account for expenses that are related to my LLC and not to any particular property? Most of the software I've seen organizes everything by property. So far I like Simplify-em, but I can't figure out how to ...