Account Closed
Current Landlord for my family's rental home trying to maximize profit, need guidance
Hello new to the forums here, first off I'm loving the site and plan to use it to it's full potential.I have alot of questions but I figured I'd start out with something that is relevant to my current situation. I cur...
Asher Anthes
Filing my schedule E for the first time, need help
Hey guys, just bought my first home in May of last year. Have got it rented out and living in it with positive cash flow. I'm looking to buy another house ASAP.
My question is how to minimize my taxable income this...
Marlie Evans
Bonus Depreciation, safe harbors and Partial asset disposition
Now using the de minimis/routine maintenance safe harbors instead of bonus depreciation for appliances, carpet and the like. I don't understand why my taxes go up a few bucks when I change move an item (a kitchen appl...
Kiefer Cheney
recieve rent payments from tenants
what is the best or at least good software to receive rent
Bryan T.
Preapproval... What if bank statements and tax return don't match
I have never purchased a home before so I am wondering if the conventional mortgage preapproval process is similar to an IRS audit. For the preapproval, what if bank statements and tax returns don't match? Do they che...
Danny G.
How do I claim this property we bought?
Some history: My brother and I purchased a home in a closed bid tax sale, and we've been working to get it rented. We bought it in August 2012 and have been making repairs and funding it on our own. We each have ful...
Tom Horan
Capital Gains and Seller Financing - Advice Needed
Hey BP -I’m looking for some capital gains tax advice as I try to convince a seller to owner finance a multi unit property. From a tax benefit standpoint for the seller, is it more beneficial for him to sell at a lowe...
Will Newton
S Corp Formation/Opperation
Hello! married to realtor here, as a realtor my wife is taxed purely as a 1099 worker so we are paying both sides of FICA on our income at this point. we are discussing creating an S corp to reduce this liability but ...
Travis Tannahill
Intro of first time investor
Hey!just wanted to introduce myself to some fellow Kansas people. I grew up in Overland Park, went to school at K-State... now my wife and I live in Hillsboro, KS... I own an insurance agency in Newton, KS. My wife an...
Brian S.
Is Schedule E and/or C required?
Hi All, I have an LLC and recently completed my K1 return for my LLC. My question is, for my personal tax return, do I need to complete the Schedule E and/or Schedule C? Or is this not required for my personal return,...