Akhtar Nasser
Personal and rental tax separation question
I bought a 2 family house and live in one of the rentals. Renters pay own utilities minus water and sewer. I created a security deposit and a personal account dentoted as a rental income checking account. My next move...
Pat Ayres
Flips & What's a good profit?
Hey everyone at BP,I am working on my first (non live-in Flip). As it stands now with rehab costs, holding costs, Closing costs, & paying the buyers agent, I will net out at $33,000. Since I am not flipping as an ...
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Ask me questions on Real Estate Tax Strategy or Investing. Answering all Questions.
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...
Drew Mim Mack
Every renters deposit STOLEN by new apartment owner Vancouver, WA
Had a discussion with potential tenants for my SFR. Their current landlord bought the complex they live in about a year ago. He told them that their previous deposit left with the old owner and they had to pay him a...
Colin Spivey
Buying a car tax deduction
I am planning to get my real estate license this summer. I also will have to purchase a vehicle around the same time. If I waited to purchase a vehicle until after I got my license, could I use it as a deduction by sa...
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Mortgage interest deduction going away?
There are several tax deductions that greatly benefit investors. These are depreciation and the mortgage interest deduction. There is now some talk of eliminating the mortgage interest deduction. Probably nothing w...
Eddie Torres
Am I looking at mortgage interest deduction on primary home correctly?
I had question about the mortgage interest deduction on my primary home. I understand that I can deduct mortgage interest up to $750k on my personal residence. Let's say my 1st mortgage balance is $600k and I want to ...
Corri Golden
Balance Between Tax Deductions and Remaining Lendable
In 2022, I purchased 10+ single family and small multifamily properties. During tax time, I deducted as much as I could. Unfortunately that left me unable to purchase properties the following year. How can I find t...
Luke Holmes
Using your RE business to write off a home office in your taxes.
Hello everybody. I'm a new investor and I've recently become very interested in the small tax write offs that I can begin taking advantage of to refine my strategy on taxes. One such strategy can be claiming a home of...
Rick Im
Tax deductions after refinaning a rental property
I have two questions regarding mortgage interest tax deductions.
First, last year, I purchased a HUD property at a significant discount and used a $70,000 HELOC from my primary residence for the down payment. I under...