Steve R.
Is this Deductible Mileage or is it part of my Commute?
Hi All,I'm confused about whether I can deduct this mileage. Here is the situation...I commute 15 miles to work every morning and after work I often stop by one of my rentals, which are in the same town, to pick up re...
Faiz Kanash
Question about how Gross income should be reported on a flipping business...
Hopefully this doesn't sound more complex than I need it to be. I recently had my taxes filed with a new CPA, and i'm not 100% certain if my taxes were filed correctly. Im a fix n flipper, and this is my first year re...
Jim T.
Splitting a 1098 between two properties
I have a tax question that I hope someone can point me in the right direction.I had a loan on one rental and a loan on my primary home. In 2016, I refinanced my home in 2016 loan and cashed out enough extra to pay-off...
Account Closed
Taxes, on a year with no rental income
Hello fellow investors, I'm new to the forums and excited to be here.I bought a rental property via a 203K loan in July of 2013. Due to extensive renovations there was no rental income until January of 2014.I'm curren...
Marty N.
Year End Tax Strategies
Hello everyone, I have one single family home as a rental property that I purchased in March 2015. It cash flows on a monthly basis pretty well and I was just wondering what I can do to maximize deductions on my 2015...
Bradley Chiakas
SALT Deduction Limitation Question
Hi BP Community,I have read 5 articles and am still unclear on the new $10k deduction limit on SALT. I am considering all tax implications before purchasing my first multi-family property.I currently have about $150k ...
Michael Plaks
Lenders v. CPAs war: automobile depreciation
How you write off your auto expenses does matter for taxes. It also does matter for loan underwriting. Notoriously, lenders and CPAs do not understand each others' rules and are often locked in needless conflicts. Fre...
Ariel K.
Tax on real estate income
I just have some general questions about taxes on real estate income:1. If I turn a profit on real estate, what tax rate would I pay? Long term capital gains? 15%? 23.8%?2. Is there a way to always avoid taxes even af...
Nathan Emmert
Mixing Personal & Commercial Insurance
I'm visiting with an insurance guy tomorrow to discuss moving my properties under a commercial insurance policy. As part of that, to get the rates we discussed, I would need to bring my personal insurance over as wel...
Michael Sarrail
Rental Property Coverage
New to the game and buying my first rental property. SFH in Independence, MissouriI would like to know what type of coverage you buy for your rentals.Replacement cost or actual value? High or low deductible? Basic or ...