Carlo Con
Schedule E income...what expenses to include/exclude for new loan
I would like to qualify for a new home loan. I spoke to 3 different home loan officers and they have given me different information each time. Here's my scenario.I bought my house in 2016 and started renting it out ...
VICTORIA LEONE
Is Renovation Travel Deductible?
Renovating a house I bought in another state over several yrs, and they were hoarders. Little by little I travel there to empty it out and repair it with the intention of eventually selling it. Are the travel expenses...
Rafael Pacheco
Deductibles on interest paid to a hard money lender
I used a hard money lender to do a rehab. I also used some of my personal money to finish the flip. Can I recover any of my loses on the interest I paid or my other expenses? Thank you,
Julio Gonzalez
Smart Strategies for Selling Your Investment Property
Selling an investment property can feel like a double-edged sword. While it's exciting to cash in on a successful investment, the looming capital gains taxes can significantly cut into your profits. For savvy investor...
Patrick Orah
Advice Needed on the Tax Advantages with rental income investment
Hello BP community, I am looking for advice confirming what I think I know about tax advantages with rental income and help filling the gaps on some of the tax advantages/strategies that I may be missing.
To begin, I...
David Tyner
Pass-through expense calculation
New investor here. I recently purchased one parcel containing two warehouse buildings. One of the buildings is in disrepair and not in leaseable condition. The second building is partially rented with one tenant. Woul...
Julio Gonzalez
11 ways to lower taxes when selling your property
Selling an investment property can result in significant capital gains taxes. To minimize this tax burden, consider the following strategies:1. Utilize a 1031 Exchange: Under IRS Code Section 1031, you can defer capit...
Parth Patel
Tax Benefits of House Hacking
Hello guys,While I've listened to many bigger pockets podcasts, I'm new to the community and this is my first post. At 30 years old and after a long educational journey to become a doctor, I'm finally at the point in ...
Kristen Dolotina
Tax Write Off for Landlords - what % comes back to me
Good morning!
I am a new landlord of a condo and am curious about my tax write off's. I'm clear what it is I can write off, what I'm not clear about is how much (or what %) of each category will come back to me. He...
Justin Klein
Accounting - Income Statement Question
Accounting Question for you CPAs.So I recently purchased a rental unit and am just starting out. I have one asset (single family home). I do not use any accounting software at the moment as it is just one unit. It ...