Armand Farr
Deductions that flow to personal income
Hey guys - I work full time and I'm looking at buying my first rental, holding it within an LLC.I know investment property mortgage interest can be a deduction against my personal income (even if the property isn't ca...
Bette Hochberger
Navigating Real Estate Investments in Light of Recent Tax Reforms
Recent tax reforms have significant implications for real estate investors. These reforms can impact property valuation, financing decisions, and investment strategies.Key Points:Interest Deductibility Limitation: Lim...
Dwight Sands
Underwriter's Perspective for Self-Employed
I'm working on some calculations for current and projected (next year) DTI ratio to see where I need to be for financing. I'm self-employed (for 2+ years) and as I understand it a lender will use the 2 most recent tax...
Simone Roche
Tax Question: Rental prop -> failed renovation -> sold
Bought a rental property in LA County, CA back in April 2018. Rented until Sept. 2018. Hired contractor for renovation in May 2018. Due to unexpected increase in cost to complete renovation the renovation project wa...
Bill Schrimpf
Do I need a new CPA - depreciation over 150k
Today my CPA told me that I cannot take the full amount of depreciation on my rental this year because my adjusted gross income will be over $150k. He said we can defer the deduction until we sell the property or AGI...
Eric P.
Rental Real Estate Loss Allowance making over $150k...
Can someone better help me understand how the Rental REal Estate Loss Allowance works? I was surprised to find out I'm going to owe $3,800 in taxes this year. I have just over $17,000 in losses from our rental prope...
Chris Ivy
File state taxes if net is a loss?
Hi all, I have an out-of-state rental in Oklahoma. It's net income is a loss due to high turnover costs, management fees, etc. If my net income (rents- expenses and mortgage) is below $0 do I still have to file in O...
Kristina Jensen
Tax deduction when using Reward Points for travel
I have out of state properties that I visit 1-2x per year to either have a meeting with the Property Manager or conduct a walk-through if there is no property manager.
If I use reward points for the flight/hotel/re...
Ray Slack
Question New GOP Tax Bill on 20% income deduction 4 passthrough
Quick question.. below is the new proposed GOP 20% deduction for pass through businesses. Is this like a standard deduction? or a cap? So, I have a S-Corp that is a pass through so if I make $100k income and $50k ...
Ali Hashemi
Limiting tax exposure
This year my AGI was over $150k and therefore passive income loss limitations eliminated my ability write off losses from my rentals. I am not a real estate professional and I don't see that as a viable path at this t...