I run my real estate investment business through my own S-corporation. I get health insurance coverage from my spouse's employment. I'm not looking for legal advice on how to set things up or the limits on anything. W...

Hi all, I'm thinking about trying to take the home office deduction next year for tax returns, but am not sure if I would qualify. Can anyone tell me, is there a minimum amount of hours you need to use a room for busi...

We have been contacted by a priest who is working with a family that is in desperate need of a place to live. If we give them a huge reduction in rent from the amount we would charge, is that tax deductible as a chari...

Hi BP,2 months, I traveled to Vancouver, Canada and I noticed a lot of real estate activities going on. I been wondering as an invest from the US, what are the legal and tax implications of owning properties up there?  

As a first time home buyer and single, how can i maximize the tax benefits available to me if i decide to buy a 4 unit/multifamily house that is worth $2 million and property tax of about $30,000 per year?
Will like ...

I know that depreciation deductions are spread out over the “useful life” of a property. The IRS allows an owner to depreciate the value of the home over a 27.5 year period. Depreciation is calculated with this formul...

I put $50,000 down on a property that I am buying through the owner.  The closing is in January.  How can I deduct this on my taxes?

Hello BP community,

Can I write signing up for BP PRO off on my taxes as a business expense? Or anything else like lawyer fees, DM marketing campaigns etc?

Thanks for the feedback!

Question 1:    I completed my first FLIP a couple months ago.  I kept track of all my mileage assuming this was a deductible expense.  I'm not sure I did it correctly vs the IRS though.  On days that I went to the pro...

Let's say I cash out refinance a rental property; can I still deduct the full amount of interest expense on the new loan, or just a portion of it if I don't reinvest the money cashed out? Please post your source.