Raj Sid
Bonus Depreciation and Year 1
Bonus DepreciationIf i purchase a new construction as investment and put in service for rental, upgrades on top of the base price of the House(As sold by builder), can I deduct it on year 1? Example, if I upgraded t...
Michael Plaks
Tax reform Q&A Thread 3 - Itemized and business deductions
Colleagues and friends,The original GOP reform thread started by @Brandon Hall is well over 200 posts by now. This is one of the follow-up threads specifically for discussion of personal itemized (Schedule A) deductio...
Tim Smith
How do high wage earners benefit from real estate related tax deductions?
Longtime lurker, first post. Thanks to the BiggerPockets community for all the invaluable advice -- it's helped me personally and professionally for many years.
Here's my question: This year my wages at my non-real...
Justin Long
Depreciation as it relates to cost basis
I may be thinking about this way to hard. However, I am also a newbie to REI and the tax implications therein. My scenario is simple: Single family home purchased by me and in my name, mortgaged property, and rente...
Amby Bhagtani
Depreciation against W2 - Income
Hello, I make a money through W2 as well as stock options. Right now my taxes are high, due to stocks. I am curious does depreciation of rental assests reduce the total taxable income? Thanks, Amby
Mike S.
Mega back door with multiple 401k
Regarding the non deductible amount that you can contribute to a 401k, is the amount limited by your earned income in the sponsoring business or the total of your earned income?
Lets say that you earn 100k in busin...
Diran Deukmajian
Depreciation on rental property not making a profit?
I have a rental property (townhouse) in Los Angeles. The amount my tenant is paying me per month only cover 95% of my mortgage, HOA, and taxes. Because this is considered a small loss per month/year, am I still able t...
Andrew Postell
Yay! Tax Season! What you need to know on claiming deductions!
It’s tax season! Yay! Can we detect sarcasm when it’s typed out? Since April is fast approaching that means many of us will need to file our Federal Tax Returns. Even if you are filing an extension I have tried to...
Nicholas Guy
REFI 2018 tax implications.
Hi BP, Im relatively new to your community and trying to soak it all in . I had an idea to refi my house to payoff student loan debt. This would give me a lower interest rate on both and allow me to write off the inte...
Dave Lion
Is The Purchase Price of Properties Deductible As An Expense?
I'm considering joining into a partnership with a property manager/realtor to buy/sell/rent property. He wants to form an LLC, in which we are both officers. I will provide all the funds to purchase and fix the pro...