Jim T.
Deducting State Income Tax for Rental Income
This question is not really for me because it won't make much difference for me but I want to throw it out there to see if the tax experts can weigh in. Perhaps it would be helpful for others.Can you deduct the state ...
Emmett Gorman
Taxes for Rental Income
This year, I purchased my first three rental properties, have a question about the taxes on that income.With this new source of income, do I need to be contributing to the taxes due throughout the year similar to how...
Charles Wilson
Michigan State Income Tax
Ok here is my question. I have rentals in Michigan that has a state income tax. My S corp in registered in Nevada. Will my S corp have to pay Michigan State Income Tax? I have been told Yes and No.
J Basscase
rental income/tax question
Hello- I'm new here and am currently making an offer on my first MFH investment property. It's a very old property (late 1800s), so I will be wanting to set aside a good chunk of money in a reserve account for mainte...
Carlao Albertao
Rental income tax - NJ
Hey all. Potentially looking to rent out my 1BR apartment in the near future. Monthly rental of $1,400 is target. And NJ tax forms say that "net rental income" is taxable, just like income from one's job. So my questi...
Ashley Langeliers
tax code income limits
Hi everyone! Last year, my husband and I became landlords by default when we moved out of our primary home on the Central Coast of California to the Bay Area for job relocation. It worked out nicely however as we ha...
Dyami Pike
Taxes on rental income
I'm looking at renting out my primary residence as I move and get a new primary residence and for easy numbers I'll change them a little bit. If I rent my property out for $1500 and my costs on it are $1200 and I payi...
Neil Copeland
Reducing Income Tax Strategies
Need some help from some seasoned professionals. I had a great discussion with my CPA today about a number of things that I needed to know, and she really tuned me up. I will have a solo 401k soon, and I already hav...
Earl Reid
Taxes on rental income.
Do you have to pay taxes on rental income if you use it to pay down on the property?
Patrik Amado
Taxes on rental income
Hey BP,First time posting.Still in the Education fase and starting to have some questions.I've seen that there is a tax on rental income (obviously) and my question is, in the USA, is that calculated considering your ...