Aaron May
Does contributing more to 401k negatively impact my lendability
Does maxing out my 401k negatively impact my ability to borrow from the bank? I.E does it reduce my income and therefore throw off my debt to income ratio or does the bank give me credit for those funds knowing I coul...
Michael Menchaca
[Calc Review] Help me analyze this deal - HOUSE HACK Rent By Room
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*This link comes directly from our calculators, based on information input by the member who posted.
Tyler Frost
Tips on Dodging Uncle Sam
I just recently bought my first flip house. All in after closing cost I'm at $75,000. I'll have $20,000 in rehab and the ARV is about $130,000. Based on expressed interest I don't think I'll have any problems getting ...
Eric Nelson
REI deductions with fulltime job pay
I just bought a triplex in Bemidji MN. I work full time, my wife and I file jointly around $110k income.The house cost $168,500. If I have a negative cashflow on paper or IRL this year, will I decrease my taxable in...
Bilal A.
Any High W2 earners out there?
To the High W2 earning BP members out there, what strategies have you used to decrease your W2 taxable income? Depending on what state you earn your wages, income tax rates of 40-50% are unreasonable. Most of you like...
Pier Di Giorgio
$100,000 GAIN FROM PROPERTY SALE: TAX DEDUCTION & REPs STATUS
Hello BP community,I am a real estate investor with a portfolio of 6 rentals. This year I will qualify as a Real estate professional and I will also make a grouping election for all of my real restate units. I am plan...
Jay Boyle
Are security deposits income on the profit and loss sheet?
Hi I am new to apartments. I presently have a 90 unit under LOI. The financial data I received from the seller shows the incoming security deposits as income and the outgoing security refunds as expenses. is this typi...
Troy F.
Seeking debt reduction advice
Hello,I'm looking for a little advice on which debt I should reduce. I have $30,000 I've decided I want to put down on the principal of one of two rental properties I currently have mortgaged. I'm curious to hear whic...
Account Closed
Depreciation for foreign rental property
I have a question regarding Canadian rental property for US taxes. As you know the foreign rental property is subject to a 40-year linear depreciation in US. Taking depreciation allows me to reduce my taxable rental i...
Yinan Q.
Can you count your own labor for repairs toward expenses?
If you do some maintenances on your rental property, such as fixing a clogged toilet, replacing a broken door, etc., can you count your own labor as expenses?
Thanks