Wells Mangrum
Charitable donations of real estate.
I purchased a gas station in 2018. Gas stations normally depreciate over 15 years. But I’m using special bonus depreciation to take immediate 100% depreciation for the full cost of the acquisition minus the land cost...
Scott Esmail
Buying or leasing a vehicle
Does anyone know for tax reasons only is it better finance or lease a vehicle? I once heard leases are 100% write off can anyone confirm this, or is there any benefits to financing?Also does it matter what kind of veh...
Elliot Freeman
Tax Avoidance on Duplex
I own a duplex in California in which I live in the top unit and rent the bottom unit to a tenant. The property is valued at about $1,000,000. The property tax is about $15,000 annually. To date, I have attributed hal...
Payman A.
Depreciation recapture
Hi guys,Posted questions in the Tax category but didn't get any replies so coming back here where I've previously had great communications. One of my three questions is really not relevant so here are the other 2:- I...
Alfred Litton
Is Lending Drying Up for SFHs?
Hello All! Just wondering if everyone else is running into what I've been running into. Called a couple of mortgage brokers I've used before (big ones) to see about a cash-out refi on a property so that I could extrac...
Chris Ready
Tax deductions before owning an investment property
Hi all,New Real Estate investor here in the process of starting out.I know that once I own a property any operating expenses, travel etc. are tax deductible but does anyone have any insight into collecting receipts fo...
Jordan Spillers
How do we get $ for House #2 when we spent savings on House #1?
Hey! We're on the verge of acquiring property #1 (YAY!) and we're using the majority of our savings since it's not an FHA or Conventional loan. However, we've got our eyes on some other properties, and we're trying to...
Account Closed
House hacking - Sch E
I am currently house hacking and want to know what the best way is to maximize return on Schedule E. 1. Dividing expenses - I see some post saying that I should just divide the unit by half. In my case, my tenants spa...
Brett Roth
QSST Qualified Subchapter S Trust Question
I have a tricky one for any of the tax gurus that would like to take a stab at it. Here's a situation. S-Corp stock is held in a QSST (Qualified Subchapter S Trust) and the S-Corp stock will generate a loss for the ...
Sanjay Sharma
How to split cost seg between partners?
I’m adding another forum question to my string of cost seg questions.
I’m partnering up on a purchase. My spouse meets real estate professional status. The real estate partner does not meet status and will not quali...