I live in NY and have my taxes as a NY Resident. but Bought a property in Maryland.  Can i deduct all my expenses for this property on schedule E for example and use the loss to reduce my taxable income?  Does anyone ...

I already have a primary vehicle. I want to purchase a secondary work truck (20k) and dump trailer (7k). Trying to figure out how much of these purchases I can deduct. Also, what other deductions would that cut into (...

My dad is going to be selling his home soon, a house he has lived in for almost 40 years. He will more than likely be able to sell it for close to $2M, and his basis is probably around 500k. This sale is what is going...

My husband and I are looking at some rental property options in the Boston area and using Net Operating Income (NOI) to assess if the properties would cash-flow based off of downpayment, mortgage rate, rent rate, main...

If we sell the two houses that we just rehabbed, put all the cash we get from that as a down payment on say 5 multifamily houses, would our taxable income be $0? How do we achieve that?

Hi BP community! I just talked to a financial planner/CPA and she said that depreciation of a rental property can not be written off as a deduction if your household income exceeds 150K. I could not find any proof of ...

What are some good end of year tax deduction strategies (outside of increasing your 401lk contributions). I've read a lot of people will buy a property as an STR, put it into service then do a cost seg. I'm looking to...

I am maxed out on my loans. My wife has her property she bought prior to our marriage and is her sole and separate property and only on her credit report. In terms of working, she manages our portfolio of properties a...

Good morning all. What is taxable in note income and what is tax deductible? Trying to figure out taxes for my business and how to list it in my ledger. Thanks.

I'm looking to sell a flip in spring 2019..... I'll have about 150k of my own cash into it and I hope to sell for around 200k. I'd like to not have all that extra income on my personal taxes for 2019, but I'd also lik...