Tim Sipowicz
Income to high to deduct Rental property
Hello BP community. I recently got my taxes done and was told I couldn’t deduct the rental loss due to my income for the year. What are my options here to capitalize on the tax advantages for next year? I have an LLC ...
Nick E.
How to book lender credits on a refinance
Hi, I do my own bookkeeping and am trying to figure out the proper way to book a refinance on an investment property.The refinance was a zero-cost refi with a huge credit of -0.75 points (on a $1.6M loan). This covere...
Mike Bonadies
Rental Room House Hacking Tax Benefits
Hey guys I'm new to the real estate world and I have a question on Tax deductions when it comes to purchasing a single family home and renting out the rooms to tenets in the Baltimore area.I was looking into personall...
Matt Leber
Cost Segregation worth it without being RE Pro?
Hello BP,I’m a long term rental property investor who just listened to a recent podcast episode that go me thinking more about cost segregation. I haven’t done one in the past but have 7 rentals. I am trying to unders...
Julio Gonzalez
What is the Difference Between Tax Deductions and Tax Credits?
Real estate is an investment vehicle that comes with a lot of tax benefits which is why it is so attractive to investors. However, understanding the tax benefits and really grasping the difference between tax deductio...
Ben Capone
Setting Up a Property Management Company
Thinking about setting up a property management company to use for my rentals to show the income as part of the management company rather than personal finances. I am sure this is a common strategy because I have hear...
Steve Smith
How to LLC and another LLC
Have LLC for buying and renting homes want to set up separate business to manage, do repairs for LLC and want to do the work myself in that business. Can Joe Doe LLC (owned by Joe Doe) hire Joe Doe property managemen...
Ken T.
Depreciation with Turnkey Properties
I was looking for a post on this topic but couldn't find one. I was informed recently by a real estate CPA that in order to depreciate (as a tax write-off) with turnkey properties that you need to demonstrate material...
Lotta Rozenson
bonus depreciation tax write off
Do i have to actively manage a property to use a bonus depreciation tax write off?
Chelsea Schaefer
CPA causing confusion on STR rules - HELP!
Looking for advice - purchased first STR 2023 and we qualify for active income based on rule 3 of the material participation test. Current CPA says we can't take losses off of W-2 because W-2 income is greater than 24...