I was pre-approved for a mortgage with Fannie Mae (automated underwriting), however, there is one disqualifying factor that came up. I am self-employed, but the business structure was formed only 8 months ago. Also, I...

Hello All,My wife and I purchased our first rental unit, a 4 unit home that sits on 5 acres of ground with some farming rents coming in as well, in August and I love it! With that said this will be my first year doing...

Hello BPer's,I purchased a property (vacation/STR) in Garden City Beach last year.  I recently received the PT-100 personal property tax return for filing.  I have many questions about how to complete the form and I a...

I've only used an accountant for taxes since setting up the LLC a couple for years ago, and I was looking for any feedback on what is considered market rate for preparing the state and federal returns for an LLC filin...

My first rental property is doing great, cash flow positive from day one with a great renter.It's easy to keep track of income/expenses etc. on Quicken for Mac right now, but soon we will be looking to investing in an...

Rental property owners, did you know you can deduct expenses like mortgage interest, property tax, operating expenses, depreciation, and repairs? These deductions can significantly reduce your taxable income. Keep met...

I'm trying to do my 2015 taxes.  I bought my very first two rental properties towards the end of 2015 so I have no previous experience with this.  From what I understand, loan origination costs cannot be included in t...

A few weeks ago I left my w2 job of 7 years to start my own electrical contracting company.  My biggest concern is showing enough INCOME for 2017 (when applying for conventional mortgages in 2018) to be able to qualif...

Everyone makes mistakes now and again when filing a tax return whether it be forgetting a deduction, missing a portion of your income, or improperly depreciating an asset. The IRS has multiple ways that these errors c...

Working on buying a 20 unit apartment building. I thought all the numbers made sense on my detailed pro-forma estimates. It was hard to lose with this thing. A cash flow beast! ... then I see last 4 years of owner tax...