Curtis H.
Should I claim interest on Sub2?
Hello BP family, My situation is an interesting one...I am about to refinance the home I am living in Sub2 to get the loan in my name. I've been here through three tax cycles. When I took over payments in 2014, I told...
Kristen Descant
HVAC Replacement Tax Deduction
This year I replaced two HVAC systems. I know this is tax deductible, but I'm wondering if I would claim the entire deduction on my 2022 taxes or is this something I spread out over a few years?
Shahad Choudhury
What are the tax conciquences of house hacking?
Hello,
I've been reading a lot about the taxes involved with house hacking a SFH, but the main thing I can't figure out is what is normal/expected by the IRS for calculating the percentage of the house that shared ...
Steve Gume
Can my LLC own a new home and rent it to my wife.
I own a LLC(100% sole owner). LLC has been registered for real estate renting. This LLC owns a commercial property which is having a net income of $1000/mo today. Can I buy a new home in this LLC(bank willing to provi...
Neetu Patil
about taxes and insurance
Hi,While purchasing property should I add property taxes and insurance in monthly payment and let escrow handle that or pay once a year?Which will be beneficial?ThanksNeetu
Matthew Cervoni
Standard Mileage Rate Increase!
To all those who put a lot of miles on their vehicle for their real estate business, The IRS has increased the optional standard mileage rates to 62.5 cents per mile for the rest of 2022 (starting 7/1). The rates from...
Robin Greenhalgh
Question from a BRRRR newbie
Hi everyone, I am new to Bigger Pockets and just signed up for PRO. I am learning the BRRRR approach and one question that came to mind is whether this approach can be used for short-term rentals (e.g. AirBnb)? I'm wo...
Account Closed
Zero Capital Gains for lowest income brackets
Seller is single and reports W-2 income of $10K. Property being sold is non owner occupied inherited property, owned 10 years. Never treated as income property as it was always vacant. Property basis is $100K, prop...
Michael Sherwood
Rent Vs. Buy
I currently rent an apartment but I am wondering if it would be a better idea to own a place just because hey you can build equity. The main thing that is holding me back is I may only be in this area for a few years ...
Pierce Lovesee
Best CPA for Investment and Personal Taxes Oklahoma
I'm looking for suggestions on the best CPA to get established with. I'm looking for an experienced CPA, preferably familiar with both Real Estate tax and taxes associated with Oil Field consultants but the main thin...