Eric Dubrule
Tax credit for lead abatement
In August of 2013 I paid $7,680 for lead abatement. I am eligible for $4,500 lead tax credit through the state of Massachusetts. My question is, do I still claim the 7,680 as a deductible repair expense or do I ha...
Erik Nordgaard
VA Historic Homes Tax Credit
Good evening, Has anyone used the VA historic home tax credit for remodeling their home/rental property? I live in a house hack and want to renovate my home using little to no money down. The home was built in 190...
Charlie Massey
remodel construction with Tax Credits
I am interested to learn more about what kind of tax credits or incentives are available for new construction in downtown settings of smaller towns. I am experienced in new construction, but wondering if are there are...
Derek Foreman
Income, Credit Lines, and Taxes
My partner and I are wanting to use our credit lines for personal expenses while working on our flips. This would do 2 things: 1. Ensure that we have some income while working on said projects. 2. Lower our total tax...
Enid Jennings
Inflation Reduction Act Tax Credits
Greeting BP,I've done a little bit of research and have yet to find the clear answer - so I'm putting it out here: Do you know if the credits for heat pumps (or other energy upgrades) will be allowed for a residential...
James Quillen
De Minimis plus Tax Credit
I am house hacking so the building is my primary residence. The water heater is on its way out.What are the rules for taking de diminimis for a piece of equipment that also offers a tax credit? Am I allowed to deduct ...
William Deutchman
First-Time Homebuyer Tax Credit
Did you buy a home after April 8, 2008? If so, and it is your personal residence and you haven't bought a home in the previous 36 months, you probably qualify for a large tax credit. If you bought a home in 2009 and y...
Charles Heyward
Tax credit extended and expanded
The big news is here: Senate agreed on extending the tax credit! And not only that, but also to add a $6,500 tax credit incentive for the existing home owners who have owned their home for the previous five years.
By...
Aaron Moayed
Circuit Breaker Tax Credit - Indiana
Do investors/rental properties get the 2% cap (circuit breaker tax credit program) for property taxes in Indiana? Please only respond if you know for sure and/or own an investment property in Indiana and have dealt wi...
Gail Greenberg
Questions about Historic Tax Credits
I recently completed a project where I'm getting historic tax credits from both the IRS and the state's department of revenue. The state is pretty good at explaining the process for using them but I need to talk to so...