As a specialized real estate CPA, I'm here to provide expert guidance on your most complex tax matters, from navigating 1031 exchanges and cost segregation studies to optimizing your rental property deductions and han...

How do you handle security deposits?  I know that they are placed in a seperate account, but I am wondering how to account for non-refundable pet fees?  Can I treat this as income and move it to my day-to-day checking...

Hello BP community.  I have 2 rental properties. One shows profit, and the other shows a loss. My accountant says that I can't deduct the losses because the "standard deduction" is higher than my losses. So there is n...

So I am working on this project that once I am done will be cash flowing around $5000 per month after all expenses are paid. I want to quit 9-5 and become full time RE investor. I plan on property managing myself as a...

Hello all, my first post here. Tried searching but couldn't come up with the answer I was looking for. First im looking for an opinion on the legality of my late fee clause pertaining to charging a 5% late fee for 1) ...

Good afternoon all!Before I do my taxes, I have a unit in which one of the tenants (a college student, parent paying) prepaid their rent for the first 6 months of 2016 in late December. Should I claim the income based...

Hello All,Thank you in advance for the help.  I'm reaching out as I'm getting ready to make my first purchase of a property.  To give you the details on the property, it's a single family residence with two in law sui...

I collect last month’s rent and security deposit when a new tenant moves in. How do most of you account for the receipt of this money? Right now I create a separate account in Quick Books for the deposit of each u...

Hi All!Do most lenders take your investment properties into account when calculating debt to income ratios?  We're basically maxed out on our debt to income ratio now because:1) We have our primary home2) We have two ...

Hi all

I'm closing on my first property today a 3-family unit. I was wondering if I should set up another personal bank account for all activities. I'm going to be depositing my checks and if there are repairs I'm go...