Patrick S McCarthy
S Corp Training Expense
Hello Resident Tax Gurus! I just started an S Corp and I'm the only employee. I am interested in taking a training course. Do I pay for this course directly from my S Corp account OR do I pay for it myself and expen...
Steve K.
SDIRA and travel costs
do any of you folks here pay your travel expenses to visit properties (that you already own or are considering buying) through your self-directed IRA?or is this a prohibited (or risky) transaction?alohasteve
Marco Werner
Napkin math - house hacking investment
Hi friends, was wondering if anybody here built a simple Excel to do back of the envelope on a house hacking investment? including all the basic elements that drive value, e.g., - reduction in tax liability on rental ...
Patrick M.
Business Account or "Business" Account with Bank
When opening a separate account at the bank for rental deposits, rent, and expenses are you opening an actual business checking or are you opening a personal/general checking and calling it your "business" account. K...
Brendan M.
What are the tax implications of paying myself to property manage?
I just bought my first multifamily property and I have been thinking about how to maximize my tax benefits on it. If i can write off property management fees as an expense, can I pay myself (either as a sole proprieto...
Jesse Poll
which is better tax deduction for water bill or tenant paid water
I sent a link to a friend about sub metering their water after a conversation where they were complaining about tenant water usage. Her response to me was I don't know how this could help me because the water expense ...
Seth B.
Write offs for an Owner Occupied Duplex
Hi All,I'm doing taxes for 2016 and we have an owner occupied duplex that we lived in all last year (we bought Aug '15).Now I know people that are responding probably aren't going to be certified accountants blah blah...
Davon Lowery
Claming deductions (losses) on your personal/business taxes
As discussed on many previous podcasts, posts most recently in the latest podcast and as general conversation, the discussion of private financing vs traditional financing.I have spend the better part of this year, th...
Douglas B.
Can someone explain the benefits of rental income tax savings?
I've heard it said that business income is handled differently than traditional earned employee income. Can someone explain this in an example for me? For example, how is $10k of earned employee income taxed dif...
Winston Spence
Question About Income Property Expenses?
Hey BP,
I have a few questions about expenses on income property. I am interested in using a FHA on a duplex and wondering what expenses do I have to pay? Can I pass off the eletrical and water bill to the te...