Jeff Ronningen
Tax Treatment: Capital vs OpEx
Hello BPers, wondering what the consensus is out there for categorizing capital vs operating for appliances? Window A/C units? Painting? Refinishing floors? Carpet? I'm leaning to treating it all as expenses.
Phil Sabella
Pyramid up to bigger real estate
Hi Everyone! I am actively searching for my first multi family property here in the suburban Philadelphia, PA area. I am 24 and new to the investment game. What I would like to do is to get FHA and live in one of the ...
Caleb Reits
Mobile Home Investing
Mobile Homes
Hey fellow investors, my name is Caleb, I am a local investor in Grand Rapids MI, and am trying to connect with other investors who have experience with mobile homes.
I would like to buy 10 of them wi...
Robert H Hilbert
Claiming an LLC Tax Write-off before the LLC IS created
I am a beginner am reading my 1st R/E book (by Brandon Turner), and building my goals and plan. Can I claim LLC/S Corp expenses, such as classes/examination to get a R/E broker license, if I incur them before I creat...
James Sun
Proper way to Correct Sch E Expenses from DST Sponser
My DST sponser made a mistake on the expense amount (off by a factor of 8!) on my Schedule E from 2017 and this year corrected it by adding the missing expense to the 2018 Schedule E. The amount is not trivial and ca...
Saman Jafari
How do you validate the claimed expenses
Hey all, I am having a hard time with my property managers to validate the expenses they claim. For example, one of them changed tge AC for around $1500 without getting approval and this month I get nothing from two ...
Ryan LaRocca
Taxes and Startup Costs
Hello BP,
Was hoping to get some insight on running a business and some of the tax benefits involved. I am mostly interested in the possible tax deductions that I can get from spending money on my real estate...
Jon Quigley
handicap issue
Hello I know it is illegal to discriminate against disabled folks. But one question - if we accept a disabled person (which I'm glad to do) does this implicitly mean by law we have to prep the property to be wheelcha...
Edita D.
IRS requires quickbooks records in audits?!
Hello everybody!I use a regular Excel spreadsheet for our rental property expenses. Is it IRS' requirement to switch to quickbooks now?Thanks!
Mark M.
Can Abandoned Property Removal Costs be deducted?
I am not sure on the specifics regarding the costs associated with tenants abandoning personal property.
Since we have 30 days to refund the security deposit, and if the tenant does not or refuses to claim any abando...