Account Closed
Counting principal as a rental expense to estimate cash flow
Hi, I'm really interested in learning to analyze deals/properties for future investments. I've noticed in pretty much every analysis in videos and blogs, the person will deduct the entire mortgage payment (interest + ...
Heather U.
resources for a simple method for tracking rental expenses/income
I have 4 rental properties just recently purchased. I jumped in and am just learning as I go. I know I need to get my tax "stuff" in order and develop a good system to keep track of all of this. I am a pretty meticu...
Mehran K.
Tax Handling of Property Management Reserve Account?
Quick question for the tax professionals :)
From the collected rent on my duplex (June), I've allowed the property manager to hold $500 as reserves for future expenses/improvements etc.
Hypothetically (because I'm ...
Cameron Marmon
Is CapEx an expense on the P&L or just an analysis consideration?
I have done some searching, but I did not find the answer I was looking for on this topic. Lets just say I decide to set aside $300/month for 12 months and I show it as an expense on the P&L. Now it is tax time! I...
Frank Fiore Jr
Double entry Accounting and Asset, Liability, Expense, and Equity for Home!
If you can provide insight into any of this I would be grateful, I have read GnuCash help / tutorial, and did some searching online, I have not found the necessary information to understand this. Maybe I ...
Jimmy S.
1 rental bank account or 1 for each property
HelloJust wanted to see how everyone else does it? Do you have 1 rental bank account or 1 bank account for each property?If you combined all the income and expenses in one account it would get really confusing.I have ...
Peter Brooke
Seeking an Accountant for overseas investor
Hi there,I am a dual US/Australian citizen who resides in Australia with my US citizen wife. I am looking to obtain the services of an Accountant in the US who can do our annual US tax returns. ThanksPeter
Nate Mac
Flipping- Repairs in 2018 are cost basis for Sale in 2019?
Background: Created LLC partnership in 2018. Purchased a Home to renovate in 2018 and sold it in 2019. Purchase Price: $60,100 In August, 2018Renovations: $30,000Utilities: $ 2,000Property tax: ...
Joey Hicks
401K withdrawal due to Covid 19
Has anyone taken or considered taken the Covid 19 Cares act $100,000 out of their 401k to purchases additional properties? What are you all's thoughts? My thoughts are that you could buy a property and depreciate it o...
Kara Johnson
Rental income...
My apologies if this has been asked a million times. I searched the forum but couldn't find a relevant thread.
My question is for the the buy-and-holds. What do you do with your rental income? IE; how much of a reser...