Arnie Guida
New Roof, Expense Or Depreciation?
I would imagine I have to depreciate it... but the bill is separated into materials and labor.Depreciate the materials but expense the labor?Thank you,Arnie
Niman S.
Fannie increases limit from 4 to 10
On 3/1 Fannie will start allowing investors to hold up to 10 mortgages and get Fannie Mae backed loans. The limit had been previously reduced to 4.
They say there will be an increase in activity from investors who h...
Kevin Macdonald
Depreciation question when paid less then land value for house/land.
I am reading a book “every landlords tax deduction guide”, which was recommended to me from this site. I understand that the 27.5 year depreciation is only for the house and not the land value.
I bought a piece o...
Nathan H.
Year End Tax Planning: QIP and CARES Act
Hi all,
I was working with a client yesterday in analyzing how the CARES act may effect his year end planning. As a result, I want to share this powerful deduction incase it applies to anyone here. It could have a ma...
Chad S.
Deducting a new septic system.
I have a septic system that has failed and needs to be replaced.Could I deduct this as a repair instead of a improvement, since I have no choice but to replace it?
Jacob Munson
Questions about tax savings on rental condo in Encinitas
Hi all, had a few questions about my condo in Encinitas which I originally purchased for $430k and maximizing tax benefits when I turn it into a rental in the coming year.1) How do I figure out my adjusted cost basis ...
Richard Pilcher
Tax strategy question for future rental/current primary residence
Folks,I have a tax related question for the collective wisdom of the forum. I am in the process of trying to buy a multifamily to make my new primary residence along with some rental income in the style of house hacki...
Dina Harleth
Calculating capital gains on sale of gifted house?
Hi everyone,
I'm contemplating selling a house that was gifted to me by my father while he was still alive. I'm trying to calculate what I'd net from the sale of the property (to make a comparison between sel...
Reggie Jackson
tax deductions for rental property
hello i close on a duplex 11-16-2017 doing a lot of repair to the property , flooring , roof , gutters , windows , countertops bathroom and kitchen repair kitchen cabinets and bathroom cabinets , it need a new washer ...
Paul D.
Besides the calculator how is everyone analyzing their numbers?
Hello everyone!I am looking at a few properties and have a strategy in place I want to utilize with investment properties mainly in multi-families. So My question to everyone is that when you see a house that attracts...