Luke J Nelsen
Is a 23% Effective Tax Rate Too High?
Hey BP Fam,
I just got off the phone with my CPA and it sound like me and my wife's effective tax rate will be upwards of 23%!! When I first started in real estate last, everyone made it sound like an incredible tax ...
Vincent Plant
Gave tenant rent discount for Covid relief, still no rent.
Well the 2nd month in a row my tenant asked me to work something out because she lost her job cutting hair from the pandemic. The rent is $1,150. It’s low budget home. Last month I took the compassionate route. She ap...
Erik Pacpaco
How many exemptions should I put with paycheck?
Hello, my mom once told me to increase the number of exemptions with my job so that I will pay less in taxes and get the most return with each paycheck. The reason behind that is because you're technically giving the ...
Mariah Jeffery
Becoming RE Professional for Tax Purposes
All,My husband and I own 28 rent units in another state. I co-manager these with my father-in-law. He is local and does showings and maintenance, and sends apps to me for processing. I do the advertising, and have to ...
Daniel Green
Setting up one property/Buying Another- Question
I'm setting up a short term rental property (2 studio cabins and 1 duplex) on Wears Valley Road near Pigeon Forge and in negotiations to buy a brand new constructions (3BR and 3BA) that will be complete in a month. H...
Dominic Jimenez
Rent Collection- Late Payments
Good morning all
I have a section 8 tenant who is behind 2 months with late payments. He informed me he’d be late and would be making a lump sum payment on February 1st. The payment does not cover the two late paymen...
Tony Yi
Sound I take a lower credit score, with larger deposit?
I have a potential tenant both are in mid 500 credit score, but they can pay 3 months deposit and 3 months advance. Should I accept this?
Thanks
Tony
Alex U.
Cost segregation years after
IF a property has been purchased a couple of years ago, and a regular depreciation was taken for 1 yeaer, ( ie. 27.5 year depreciation), in year 2, can you do a cost segragation, and take the bonus depreciation in the...
Daniel H.
Tenant Says He's Leaving
I have a tenant who says that he is moving out at the end of this month. He did not pay rent for this month and does not plan on paying. It is not worth it for me to take him to court for the rent since I would not ...
Martingale Kim
NY state tax for nonresident
I'm a MD resident work remotely for a company in New York city. part of my tax is witheld for NY state.i did a research and seems that I can't get these refund because there's no treaty between NY and MD, treaty exist...