Monica Evans
Tax deduction question
My husband and I recently closed on our first investment property which we plan to fix up and then rent out. My question is: if we redeem our personal credit card points for Lowe’s / home dept gift cards to go towards...
Matt Dickens
PMI = Tax Deductible !!!!!
FYI to all my STL investors who own a home with less than 20% equity and paid PMI in 2021, here's a quick reminder that a portion of your MI premium is tax deductible if your annual gross income for 2021 is at or less...
Edgar Lopez
Pandemic Tax Deductions
Hello, As an owner of a rental property, can we use any rent that we forgave or paid out of pocket as tax deductible?
Paul C.
Insurance Tax Deduction
I've been reading IRS Publication 527 to better understand the tax accounting for rental properties. I'm not sure how to interpret this statement about insurance:
"Insurance premiums paid in advance. ...
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Missed Tax Deductions
ATTENTION Investors, Small Business Owners, S- or C- Corporations, Self- employed Individuals or anyone who questions whether you’ve overpaid on your taxes.
Did you know that you can revise and resubmit your tax retu...
Matthew Pos
Tax deductible question
My tax home is in Connecticutand we own one rental property and would like to looking into a new market out of state.We are looking to schedule a viewing tour in the west coast for a potential rental property and woul...
Nathan S.
CPM- Tax Deductible?
I have been considering getting my CPM (Certified Property Manager) designation both since my day job is in Property Management and I moonlight managing my own property investments. The program is approx $6000 to com...
Fred Stevenson
Allowable tax deductions
I'm an active investor, but I don't qualify as a professional REI. I'm trying to understand what types of business related expenses I can deduct. I have created an LLC that I will be using to buy my investment prope...
Jeff Fairchild
Tax deductions rentals
This article:
http://www.googobits.com/articles/1349-taking-a-tax-deduction-for-home-mortgage-interest.html
says near the bottom of page 1 that you have to live in a vacation home 14 days of the year in order to deduc...
Allison Bagay
Education tax deduction
What are the requirements for education deductions for the state of Pennsylvania? I am not talking about an actual college education. I am referring to an online film industry seminar that I chose to participate in. T...