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...

What all can I deduct as business expenses?  I closed on my first rental (a duplex) yesterday and want to make sure I maximize all my deductions.  Can i deduct internet, cell phone, office supplies, car insurance (if ...

Hi Bigger Pockets,We have a duplex that was out of use for 7 years.  We have fixed it up and have it rent ready.  We replaced roof, bathrooms, flooring, windows and here is the dilemma. Can the w-2 wages I paid my emp...

Last year I filed my taxes as single, and owned a rental that returned a loss. I was able to deduct the losses on my taxes.This year, I am married. The same property once again has a loss. If we file jointly, it seems...

Hi all, are expenses incurred searching for and/or purchasing (going to the closing) rental property tax deductible...whether that be mileage, or airfare to another state?

In my planning for retirement, I estimate my family annual expenses to be about 100K. I want to know how much do I need to clear in rental income to be able to cover that.
Obviously, the depreciation should make the ...

Hey BPElites - im looking to replace my current homeowners ins policy on one of my rentals. The property is a typical rowhome in Bmore City. I was told by my current policy that after further review they can not accep...

Hello fellow investors! I am working on a 'Buy and Hold' deal and wondering if I should close in December or January for expenses and deductions as I may not be able to rent it out till next year and thus will have no...

Greetings,I have read many times that getting a good accountant would be one of the first things to do as I step into the world of real estate investing. I found one but he told me since I bought my first property on ...

Hello everyone,I am closing on my first property in Elk River, Minnesota and I am wondering if the purchase of the home itself can be considered a tax right off. I know once it is purchased it follows the rules of dep...