Hi there, I currently hold a 401k through my employer which i contribute to weekly. Im looking to do a couple things here:-1. I already max out this 401K every year but want to put away MORE pre-tax dollars, can i set...

Hey BP. Quick tax question: I know that I can deduct my mortgage interest, property taxes and homeowners insurance on my taxes, but can I deduct the principle payments along with all of that?

Guys, we know that 20% applies to the Qualified Business Income (QBI). Let's ignore service businesses, phaseouts and all other complications. Let's take a wholesaler netting $100k. So, he just gets a $20k below-the-l...

So I am a brand-newbie at this, have not done a deal yet.  I realize that the very first thing I need to do is educate myself, which will probably take several months (which will put us into the next tax year) before ...

I'd like to claim a home office deduction (I've reviewed the details and I'm eligible).  It's my first year with a rental property, and I did not have a profit (on paper), so I know that the deduction and depreciation...

I just bought a new home as a primary residence. I use 2/3 of the home for short term rental on Airbnb. Am I allowed to make tax deductions on both - 1) Mortgage Interest, and 2) Offset my passive income with STR (onl...

Based on the proposed Tax Reform with the substantial increase of the Standard deduction would it make more sense to refinance my investment properties as a cash out and payoff the mortgage on my primary residence. It...

Hi,

I am trying to fully understand taxation of rental properties before I make my first purchase. The scenario I'm looking at is a buy-and-hold strategy (100% cash) that would generate a moderate amount of income (...

Real estate can be a rewarding investment, but it also comes with various financial responsibilities, including taxes. Fortunately, there are several tax-saving strategies that property owners can utilize to maximize ...

Can you put the real estate taxes on your schedule A while the property is undergoing renovations, before the property is placed in-service?  I was under the impression that you cannot, that they must be added to the ...