Richard Fleming
Buy and hold income question
Let me make sure I get this straight...Just for example, I buy a house today and rent it out tomorrow. From the day I begin to receive rent from the tenant through the Dec 31, this is looked at as "income" by the IRS...
George P.
ways to lower tax assessment
Just received my assesment, taxable valuation and property classification notice for 2012. although the taxable value has decreased on all houses, the tax bill actually increased by average of $700 for the year.
I wr...
Jeremy D.
Leasing to yourself?
Quick question about tax implications of leasing to yourself. I am a 60% owner of an LLC with 20 or so rental units in it. If this LLC were to buy a property and rent it to me, would this be a problem tax wise?
Her...
Ben M.
Tax increases killing cash flow
It is nice to have the equity from the appreciation we are having but the tax increase is killing my cash flow. I guess when looking at the equity on the back end it is still a win but this is making things a bit tricky
Matthew Fields
What Kind of Account Should I Keep CAPEX $ In?
Good evening all,I am about to list my first property for rent in Temple, TX. It is a single family 3/2 built in 2020 that will be cash flowing roughly $500 a month after all expenses.I would like to invest this money...
Danielle M.
Should I put 8 unit rental in LLC?
Hello,5 years experience with single families and a duplex BRRR strategy but never used a LLC. Looking at buying a 8 unit. Live in CA but have rentals in TN.Here are my questions:1. Should I put the 8 unit in a LLC? A...
Robert Lee
Can you "pay" an onsite prop manager in reduced monthly rent?
Hey Guys,I am a partner of an LLC that has owns and operates investment properties in Caifornia. I also manage the properties while living in one of the units.I currently receive a property management fee which ends ...
Justin Demember
Tax implications on new rental duplex
A 50/50 partner and I just purchased a duplex with a conventional loan. We have a tenant in each tut came with the property and receive 1000 in rent. P&I is $200 with taxes and insurance NOT in escrow. We have no ...
Louis Schmidt
Michigan Primary Residence Rental Taxes
Hello!
I currently live in Michigan and am looking at moving out of state. I would like to keep my current residence and rent it out. Is anyone familiar with how the taxes work on that? Obviously my taxes are homeste...
Gary F.
Do you Charge utilities OR write off later?
Is it more advantageous to have tenants pay for utilities which we’ll need to add as income
OR deduct from taxes as expenses?