Richard Kreder
Can you deduct Interest on rental re-fi after a cash purchase?
I have the opportunity to purchase a property via short-sale, but it requires a cash purchase (won't qualify for mortgage). After I make repairs I would like to finance it and rent it out. I believe for rental mortgag...
Wil Cooper
House hacking and taxes
Hey everyone,I’m purchasing a duplex in Portland, OR with an FHA. Property here is quite expensive, but even with PMI and a high mortgage the payment after rent comes in will be less than renting in most cases. Anyway...
April L. Williams
Chart of Accounts for Wholesale Investor Bookkeeping
I am a wholesaler in need of a chart of accounts to set up my books. Since I'm just starting out and not in need of project management or anything too fancy, I'm doing everything in Excel. If anybody has a list of tax...
Brandon McLean
Tax Saving Idea Thread
Hello! Let's start a list of ideas we all can do to pay less taxes! I heard someone on the podcast recently just briefly say "Learn to live on pre-tax money." And I haven't been able to get that out of my head since...
Anna Thanopoulou
First year depreciation in STR
Hi everyone. We purchased a property in early October and are placing it in service this week (mid November).We had intended to run a cost segregation study and try to accelerate depreciation which we can deduct again...
Ben Polansky
Maximizing Real Estate Professional Status
Hi BP - first time poster here! I own a few properties in the Los Angeles area with a partner. This year is the first year I will qualify as a real estate professional and be able to take some aggressive deductions th...
Guillaume Derouet
Property lost due to fire
Hi Guys, when you completely lost a property due to fire, can you write off the entire value for the taxes?How does it work?Please let me know.
Jacob Mistric
Airbnb Tax Credits
So I'm just doing some research on tax benefits of airbnb owners, and I see a bunch of stuff about deductions. Are there any tax credits that you guys know about? I'm in Texas if that matters.
Josh Edelson
Insurance Payout - Claim as income?
I had a fire at one of my houses. Insurance paid me $30k and it will cost $30k in repairs. Do I need to claim $30k in income AND $30k expenses? Can I JUST claim the expenses? Can I just not claim either since it's a w...
Account Closed
Vacation coming up - What can I write up if I look at Properties?
I am in the process of purchasing my first rental property (under contract) in Louisiana and my wife and I are on the hunt for more in various locations. With that being said, we are taking a family trip to South Padr...