Kate McClinton
Looking for a Second Opinion from Tax Pros
I'm second guessing some answers my CPA gave me recently and wanted to run the following questions by others who specialize in real estate accounting. Thanks so much for your time!We purchased a house, listed it for ...
Robin Olivaw
HVAC replacement in single-family rental - deduct or depreciate?
Hello,We have a general question about recording for tax purposes HVAC replacement in a single-family rental property.
For the scenario below - is there an option to deduct the expense (fully/partially)?
Scenario:
...
Steve R.
Resident -> Non Resident Tax implication for investment propertie
Hi,I am currently a Resident of Texas and have 3 rental properties (+ 1 primary home) in Texas and have 1 rental property in Alabama. I am neither a citizen or a green card holder. I will be moving to out of country d...
Haz Zoleta
Quote for a REHAB
I might have a property in the area that's more a SHELL...new plumbing,electic,roof,flooring,walls,ceiling,HVAC etc it's 2400 SQFT. It's already been cleaned out just a shell. 2 Floors and attic. Can anyone give me a...
Ervens Oge
Where to get started with an S Corporation
After a bit of research I found that an S Corporation is preferred for fix and flips. Can anyone recommend a good website to get started and how much it should cost?
Account Closed
Thinking through company structure for tax reduction
Good morning, BiggerPockets!
First, let me save you the trouble: you are not my attorney nor my CPA and any advice given is for educational purposes only!
Second, thank you for taking the time to respond. The shari...
Patty C.
LLC or S-Corp for Short Term Flips?
Hi Everyone,My family and I just flipped our first property and are ready to keep going but we want to make sure we're doing it right. Basically there are 3 members using cash to buy properties and flip them. What w...
Ian Montanio
Tree Removal: expensed or capitalized
I want to remove a tree that is hanging over a rental property to prevent any future damage. Can I expense this cost as routine maintenance or is the cost capitalized?
Cameron Chesney
LLC filings for a real estate company??
Hello all! I set up an LLC for my real estate investment company a year ago. Last year I filed personal losses (most just the cost of the marketing and LLC set up fees). It seemed pretty simple. However, this year I u...
Vidit Maini
Starting my small business
Dear BP family, I am finally on my way to start my small business. I have setup an LLC as a C corporation. I have the option of turning it into an S corporation. Year 1, I intend to keep my W2 job while i work to get ...