John McAuley
Expenses for homes that did not close
Hey Guys,I had several expenses this year associated with homes that we ultimately did not close on (inspections, termite inspections, etc.). Are those treated like normal business expenses against my LLC for tax pur...
Jody Vreeland
Depreciation vs Repairs/Maintenance Expenses- Tax Ramifications
Hi all- Our tax accountant informed us there there were changes made by the IRS last year regarding "rules/guidelines" on how you can categorize expenses when rehabbing a rental property (not flipping). We, like many ...
Adam Pervez
How do you pay for Rehab expenses?
Hello,I was curious to know how investors pay for expenses on their rentals such as rehab expenses. Is credit card the preferred method? If so, what cards would you recommend? I looked online and saw that business cre...
Francis D'Aurora
Vehicle Registered to an Entity & Expenses
Asking for a friend? 🤫 Since he doesn’t have a CPA yet, he asked me to post here.
Where are my RE CPAs at?
How crazy is this idea? Could this work?
My friend works for a company that pays him an allowance for the u...
Account Closed
Writing off Expense of Real Estate License?
My wife and I own our primary home and a rental property (that we used to live in) and are actively pursuing adding buy-and-hold properties. Our current rental is not under an LLC (I know, I know)
We are currently lo...
Kevin J.
Question about calculating operating expenses on condos
I am interested in how operating expenses are calculated on condos with fairly high HOA fees. For people who use the 2% criteria as in Mike Rossi's book, "1 Minute to Rental Property Riches" I know operating expenses ...
David Repinski
Failed mortgage on rental property(IRS expenses?)
In May of this year I had a failed attempt at securing financing for a mortgage on a rental property. I ended up paying cash and then refinancing two months later. The question is about the cost of the failed mortgage...
Priyo Lahiri
Expensive cleaners!! is there such a thing?
Is there something like that? I know the cleaners and the handyman are the pillars of your successWe have found a cleaning company that is pretty established and we hired them to do the deep cleaning of our new to us ...
Ian Livaich
Calculating Expenses for Small Multifamily (Repairs/CapEx)
Hey everyone,I am searching for a small multifamily property (most likely a duplex) in South Jersey. I am going to look at three properties tomorrow with my agent. I am crunching the numbers and determining at what ...
Mark Forest
Where do I deduct non specific expenses
All my houses are owned as a sole proprietorship. What do I do with non specific expenses like education, seminars, membership to my real estate group, etc?