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...

One aspect of real estate that people don’t always appreciate fully is the favorable tax treatment that real estate investors enjoy.Investors who care only about an investment’s returns miss the very real benefits of ...

http://www.cnbc.com/2016/12/01/heads-up-homeowners-mortgage-interest-deduction-on-trumps-chopping-block.htmlThe mortgage interest deduction is already capped at loans up to $1 million if you're married and filing join...

Hello All, I have been reading up a lot on Passive Losses lately as we have been looking at some larger properties and considering using Cost Segregation along with that. These purchases would be through LLCs that var...

What questions do I ask a CPA or CFP? I have been questioning our current tax preparer for a while now. We were notified less than a week ago that our 2020 taxes are now done! Why has it taken this long? I realize 202...

I purchased my first primary residence in Florida in November of 2015 for $79,000. I then had to move due to military restationed me to Texas on May 2017. I have had my house for sale for almost 6months, got under con...

Building a tax advantaged retirement plan...best ways to invest extra funds + smart exit strategy from rentals.. We may decide to return early...We are looking to build a retirement that minimizes tax obligation, lowe...

Just turned 60 and want to move my money out of my workplace investments (mix of 401k, IRAs) with Fidelity.  I own 3 homes (2 outright) and one is a vacation home rental that I owe just under a 1/2 mill on. Note: It p...

Just received a newsletter from my estate planning firm with the following info. First time I hear of this. If true, this has substantial impact on how we work with our IRAs and something to consider when nudging...

Can I deduct passive RE losses from nonbusiness income??  I was not aware of this.  Is this true??? See section in bold/underlined belowBelow is an article from the Washington PostTax change in coronavirus package ove...