Karen Lee
HELOC interest expense deduction
Hi - From what I've been reading there are restrictions on HELOC interest expense deductions. Does anyone know if I take out a HELOC on my primary residence and draw funds to purchase/improve rental property (1) will...
Jeff Goff
Depreciation on repairs?
I may understand this wrong, but under the new tax code capital improvements can be taken as a deduction rather than depreciated. Is That right? Specifically I had to do a new water heater and a $4000 foundation repai...
Account Closed
Questions on Real Estate Tax Strategy or Investing
As a specialized real estate CPA, I'm here to provide expert guidance on your most complex tax matters, from navigating 1031 exchanges and cost segregation studies to optimizing your rental property deductions and han...
Scott K.
Can travel expenses be tax deductible?
Hi there, when my family and I travel, we simultaneously use that trip to look at potential investment properties. I was wondering, are any of those travel expenses tax deductible?
Aaron Hunt
Are you #itemized in 2018?
How many BPers were able to make money moves in 2018, and stay itemized with the new tax laws and higher standard deductions going into effect?What were your big moves of 2018 which made sure it would happen?
Jeremy Zindel
Deduct charitable contributions on a Schedule E (or C)?
First off, I know this is a very specific question to my circumstances and I already have an appointment with a CPA to ask this and many other questions but I wanted to get a feel from anyone in the BP community who m...
Andrew Pettit
Deducting Interest Paid on a Brokerage LOC
Hello,
Can I deduct interest paid on an Etrade brokerage LOC used for a down payment on an owner-occupied home? ThanksAndrew
Bill Briscoe
Meals Tax deductions at 50% or 100%
Which deduction do most rehabbers use when providing water, snacks, pizza, beer, etc for their work crews (family, friends, etc) on the jobsite?
I had always used the 50% deduction in other businesses, but ac...
Amit Saini
Does putting rental property in LLC help with lowered taxes?
Getting conflicting information on this subject. Both husband & wife on W2 income w/ one rental property.Does creating a LLC help with a lowered tax rate for the rental income? Very sparse information on this subj...
John T.
Rental property/ business expenses Qs
Hello BP,
We bought and rented our first investment property last year. It is in our personal name (no LLC) and we did our taxes for the first time. We were keeping track of our business expenses, particularly our ...