Rachael Collins
Property Taxes owed from two years prior to my purchase
I purchased a property in December of 2014 and have just received a default tax bill from 2012. My current year taxes are paid. This default showed on the initial preliminary title report I received and I inquired abo...
Reuben L.
Prior Year (2020) HSA Contributions after Filling Taxes in 2021
I have an HSA through my employer and I would like to do an out pocket contribution this year (2021) to make up for not hitting the max limit for last year (2020). Since I have already filed my taxes for 2020 a couple...
Cindy Tang
Can Depreciation be adjusted if it's limited in prior taxes?
I have 2 rental properties, Texas and Georgia. I sold one in GA in 2018 (which we purchased in 2007) and didn't do 1031 Exch. Now, the depreciation hit me back as gain when doing the tax report. However, I reviewed th...
Account Closed
Closing on January, Who pays for prior year property tax?
I will be closing on my first property in the last week of January. Do I have to pay for the prior year's property tax?
Cindy Tang
Can Depreciation be adjusted if it's not limited in prior taxes?
I have 2 rental properties, Texas and Georgia. I sold one in GA in 2018 (which we purchased in 2007) and didn't do 1031 Exch. Now, the depreciation hit me back as gain when doing the tax report. However, I reviewed th...
Kyle Bryant
Reaching out to Owner prior to tax sale in Houston, Texas
I was looking through the Harris County Tax website today and came across an interesting scenario. As a new investor, I'm looking for some advice on how to proceed.Harris County tax authority is foreclosing on a prope...
Dean Hulsing
Any success in getting the Tax bill down PRIOR to closing?
I am interested in purchasing a MFR that has a substantial amount of personal property associated with it. I am in IL and the owner pays for the TAX at the time of closing and I feel that the Taxes are high in compar...
Crystal Novak
Cost Seg Prior to Transfer of Title to LLC Partnership Tax Implications?
Need help with a cost seg situation. My CPA didn't have information on this for me, if I were to complete a cost seg for 2022 personal taxes while a rental property is in our personal names and then that property is t...
Jeff Helm
Can I get a loan prior to selling property to avoid taxes?
I'm negotiating a land contract for a 10 unit apartment building. The seller is concerned about taxes so we may structure multiple balloon payments over a 5 year period.
However, if he went an obtained a commercial ...
Anne Dahl
What can I deduct from my taxes prior to putting a VR online?
Hi all,I have put my vacation house on VRBO/Airbnb and would like to know if I can deduct the work I put into it prior to renting? We purchased a bunch of PAX units to store our belongings in 2016 and installed them ...