Kevin Wasie
1031 on lower cost property
Hello, I am going to complete a 1031 exchange for the first time.I recall that I read in a book that most people do not understand the boot rule correctly, and many 1031 QI's implement it incorrectly. Specifically, th...
Dan Ryan
Are non refundable pet deposit taxable income for my rental properties?
Are non refundable pet deposit taxable income for my rental properties?
Charles D. Smith
5 Tips to help you save money during tax season- from a CPA
Take advantage of depreciation: Depreciation is a tax deduction that allows you to recover the cost of your investment property over its useful life. By taking advantage of this deduction, you can reduce your taxable ...
John Hickey
1031 and appraisal costs
Looking for some input from investors with 1031 experience.
I know that free advice is worth what you pay for it. So with that disclaimer and the knowledge that I have a QI and and a CPA. I would love to get some ...
Corey Demuth
rental property tax example - please advise!
I am still a bit confused about the whole topic of tax benefits from having rental property. Can anyone take a look at this example, and let me know if I am doing this correctly?
An investor has a full-time job makin...
Teresia Sayler
tax treatment for lease option income
What is the tax treatment for the different income streams from Lease Options? Is the Option fee self employment income (business income) when rec'd by a "future potential buyer"? Can the monthly income be "rental i...
Nicholas Dillon
Taking additional cash from a 1031 exhange
I am curious of something. If you sell a property, and do a 1031 exchange with the proceeds, but don't need all the proceeds for the down payment of the next property, are you taxed on the additional profit that isn't...
Jesse Shields
Canadian Corporate Structure - How to setup a corporation for B&H Rentals?
Hey All,I've perused through the Canadian section and there doesn't seem to be a great deal of info on this topic. I'm looking for some information on how one can go about purchasing a rental home in Canada under a co...
Avery Goodman
LLC as Rental Property Owner AND Manager
Hey all, currently own four Florida rental properties (one triplex and three SFHs). I created a sole-member LLC to own and manage the triplex, and then created a second LLC to own two of the SFHs. The last SFH deed ...
Eli K.
Which Expenses are fully deductible on a rental property?
I read many articles saying that you can deduct your property management fee or your repair costs or your insurance cost from your tax on your rental property, are those fully deductible??? Like if the property manage...