Charissa Bruckman
Write-Offs for Taxes
When flipping a house, what are some expenses that can be written off for tax purposes? This home is a few hours away; so what about things like driving miles, anything we purchase for the house, food while working on...
Ken Latchers
Building 2 - LTR - 39% annual return on value of building!
BUILDING TWOA) Previously I posted a projection for a $135,000 pair of townhomes (BUILDING 1), which came to about 34% annual return on the value of the building when rented as a nicely furnished pair of townhomes. I...
Rachel Payton
Hire a CPA? Or tackle taxes myself?
The last couple years I've had someone else do my taxes. This year I received a letter from my CPA that the cost is going WAY up. So my question is how difficult would it be to do my own income taxes? It's basicall...
Aidan Mulligan
Stessa: How do I record home depreciation
I use stessa to track my transactions both incoming and outgoing. At the end of the year there is the option to download a tax report that includes and income statement, net cash flow, and capital expenditures. I can'...
Danny N.
Taxes Owed On Land Sold In A Foreign Country
I have a piece of land in another country that I paid $20,000 for in 1989, its currently worth give or take $300k based on other comps in the area. If I was to sell it and net lets say $275k. What would I owe in taxes...
Na Na
Unintentional landlord... do I depreciate?
Hoping from some help from this excellent BP community, since I am doing my own tax return. It is usually very simple for me.
I purchased my condo in 2006. Permanent residence until military transfer in 2010...
Salvatore Giancola
Tax account in Ontario
I've done my own taxes the last few years. Used td's software and TurboTax free software. It was easy for me, single guy only 1 income from my day job. Now with 2 rental properties, I'm thinking that I should get my t...
Cam Chan
Low cost option for Cost Segregation?
Does anyone know if there is a software or service that is a Low cost option for Cost Segregation? I understand that there is such a service/software that is enough to meet IRS standards without an actual appraiser g...
Joshua Houchins
Accounting Software?
I use quickbooks now for my other businesses.......I don't really like it that much.
Does anyone have suggestion about a good accounting program for investors?
Pat L.
Quickbooks - 1 Rental-Owned in own name vs LLC - Does it matter
I'm both a Quicken user (need to upgrade soon) and a Quickbooks user.We recently purchased our first cash flowing property. If I were putting in an LLC, no question, I would use Quickbooks. But since we currently own ...