Ivett Soti
How to calculate tax implications when investing in real estate?
Hi,My husband and I are trying to purchase rental real estate properties. We are just learning about it, but our plan is to buy a few of these properties (ranges between $80k - $150k) in the next couple of years and e...
Samuel Hailai
Can you check my calculation , how to take deductible for mortage
Hi All, I am buying a property to use it as house hack ( using one room and renting the others), the property is 360K worth, I want to calculate how much tax deductible I can get, whether that deductible offset, the 7...
Calvin Kwon
Cost Sharing an Apartment (Tax Implications?)
I have a spare room in a 2BD/2BA apartment. I rent the apartment unit and I am looking to rent out the extra room. I was going to use the two rooms for myself, but decided to rent out the spare room. What are the tax ...
Kyler Clem
Writing off furnishings
Hello!I have just finished remodeling my downstairs into a rental unit. I want to full furnish it for mid-short term rentals. How can I write that off? If possible. Thanks!
John Carr
First Time House hack, Do I need more help then my HR Block tax person
Hey Team,Quick run down. I live in my PR located in IL, but bought a home in FL with my daughter which she is house hacking. We are renting out 3 rooms atm. Since I make well more then my daughter, the plan was for me...
Dina Schmid
Buying Parents' Home - Ways to reduce costs and hassle?
Husband and I are considering buying his parents' home and I have some questions about this and would love any feedback on how to minimize hassle and our costs. We're doing this for two main reasons: 1) Prevent his da...
Nadir M.
How Do You Handle Rent Collection & Payouts for Accurate Accounting?
Property managers, how do you collect rent from tenants, keep your management fee, and send the remainder to the owner without it reflecting as if you received the full rental income in your bank account?
Are y...
Patricia Vildozo
Taxes for flipping schedule C vs investment
Hello Community,I opened an LLC, purchased a flip with it in 2018, had a bunch of issues while rehabbing it, when we were done with it, it didn’t sell quickly, we try to refinance it, bank made me quit claim deed it ...
Gabe Ryan
CPA / EA tax advice for new investor
Hi! Hoping you all might have some advice for a first time RE investor. I own one rental, but my main income is from a W2, and I'm not quite sure what type of tax professional I should be reaching out to ahead of tax ...
Charlie McVan
two properties, going to add more, LLC, deductions and more!
Here is our current situation. My wife and I purchased a property in 2016 with two houses on one lot. We have recently finished renovating the house we do not live in. And will begin to rent it in the next month. Curr...