Christopher Mooney
Real Estate By The Numbers - NOI calculation
Hi all,I've been reading through Real Estate By The Numbers by J Scott and Dave Meyers. It's really thorough and a great read so far!I'm caught up on their breakdown of NOI. They say Net Income = Operating Income - Ta...
Kin Leung
Tax and mortgage interest question
Hi BP,
We currently have 3 properties in the Bay Area, 1 of which is our primary residence. The other 2 are rental properties with enough positive cash flow that we have to pay taxes on the rental income after all the...
Maximilian Benjamin
Self employment tax with property in LLC
Sorry for the long post but I thought this was an interesting email conversation...
...which ensued when I began discussing with my CPA about future expansion and what I ultimately want to do with regards to real est...
Angelo Cortez
Claim paintings as furnishings for STR for Schedule C?
Hi BP Community,I collect paintings. Paid ~3.5k of paintings last year. If I put them in my STR, can I write them off on my Schedule C?
Rebecca Bahr
Help with IRS Schedule C: Rental Properties Adding together
Hi. So I have quite a few rental properties (SFH, Duplex, Fourplex) all sole prop. wanting to put on Schedule C instead of Schedule E for NOL purposes on Taxes (using Turbo Tax). My question is:
a) Can I lump them...
Angie Jay
Is it a flip OR Rental gone wrong?
Hello everyone, Have a Tax related question and looking for some clarification. It's the first time selling. and getting some different answers from accountant, so im confused as to what to do. Here's the backgroundI...
Theodore Smith
STR Business Sch E & Sch C questions
Looking for some insight, and I realize this may be a bit complicated for this forum, but as I am not a tax professional it may be an easy answer as well. Some basics…
My wife and I own a property with 3 STR on the ...
Hiral Lai
How to minimize taxes you pay and best way to fund a deal
Hi All, I am trying to figure out the best way to fund a potential deal. My company awarded me some stock a while ago which recently vested. I didn't want to get hit with major taxes if i sold it. Is there any way to ...
Lee Davis
Tax deductions on vacation vs long term?
I'm curious what differences there are in accumulated depreciation deductions in vacation rentals from long-term. Can you depreciate the value of the appliances and furnishings typically? Do you find overall that the...
Joseph S.
Is it likely to get tax returns from sellers of a 3/4plex?
Hey all,
I'm preparing to purchase my first 3/4-plex and have read a few books so I have a good grip on the fundamentals, but not much "street knowledge". One of the keys that all the books push is confirming mainten...