What are all of the possible tax deductions when claiming a rental property? And assuming I have a rental property paid off, and I have a W-2 job, do I save money on both taxes? Or one or the other? Also is there any ...
Hi all - I know this topic has been hit on a few times but I wanted to ask my question in a very specific manner to get collective expert feedback. I understand I should consult my CPA, and I will. They are, however...
Want to pay less money to the IRS in 2024? We’ve got the real estate tax strategies to help you do just that. And get this—you don’t need a large real estate portfolio to benefit from these money-saving tax tips!
W...
i was wondering - if i have 3 rental properties that bring in say, $1000 a month each - $500 of which for each house (or $1500 total) a month goes to principal, does that mean that my tax break would be $1500 x 12 for...
In my planning for retirement, I estimate my family annual expenses to be about 100K. I want to know how much do I need to clear in rental income to be able to cover that.
Obviously, the depreciation should make the ...
Rental income taxes can be confusing for real estate investors but it is crucial for investors to understand the filing process, deductions, and tax rates in order to be successful. There are a few key points to each ...
Hi Everyone,If you invest in a syndication using funds from your self directed traditional IRA can you take advantage of bonus depreciation to offset any taxable gains when you withdraw or convert to a Roth IRA? Thank...
I posted this in the member blogs last week, but wanted to get some more eyeballs on it.As many of you know, Mister Money Mustache (MMM) wrote a blog post entitled The Shockingly Simple Math Behind Early Retirement th...
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...
Greetings everyone,I was wondering if, for example, I earned $200k in one year working and decided to invest it all in a property (single or multi) all cash, would I have to pay taxes on that investment, or is there a...