David Cable
Travel Mileage Reimbursement
Re: the travel mileage deductible expense, does the entity reimburse the owner?i.e. I have a multimember LLC taxed as a partnership.For one trip using my personal vehicle for the purpose of renovating one unit at an a...
Nick Vollrath
Allowable Deductions for Limited Partners
Can anyone explain what deductions are allowable as a limited partner in a real estate deal vs. actively owning/managing a property? For example, if someone creates an LLC through which they invest in limited partners...
Kerns Churchill
Travel Expenses and Tax Deductions
Hi Everyone,New investor here. Just bought a SFR rental in Mesa, AZ and I am already doing some tax planning. I live in California, so I plan to drive to my rental property and I had a question regarding travel expens...
Michael Plaks
Recordkeeping for a mixed business/personal trip
This is a partial FAQ for a very complex topic that has a lot of possible twists and complications. Maybe it will trigger a discussion leading to a more complete FAQ.Here is a scenario. Harry goes on a weeklong trip f...
Erik Sherburne
Paying myself as a property manager
I have been managing my own properties, can I pay myself as a property manager? Set up a different business? Pay my wife?
Shah Alam
Upfront Fees for a Loan
Hi,I am new to the US, so I am just understanding hard private lending. Is it common practice for a lender to ask for upfront fees for providing a loan to a borrower? If so, what sorts of fees are they and what do the...
Eddie Hong
Impact Fees - Direct Infrastructure Improvements?
My company is developing in a Master Planned community with a fortune 500 builder that owns about 90% of the project. Some roadside, water, landscape, and light improvements still need to be made for the project to be...
Cee X.
should I reimburse for airbnb stay?
Sunday of last week my tenant found a mold issue growing on the corner of a laundry room wall. We got a contractor out next day to give a quote. Contractor started the job on the Thursday. To give additional context, ...
Larry Flanagan
Fringe benefits to reduce income taxes
I got a $65,000 income tax bill today. Is there any way my business can provide me with some deductible fringe benefits like a company car, health club membership, life insurance, etc?
Thomas Peddle
Reimbursement for blinds??
My property does not have blinds on windows and ceiling skylights. Tenant had two walkthroughs of the property, conducted a move in checklist without mentioning the lack of blinds as an issue, and signed the lease (an...