Link McGinnis
Business Expense deductions by Entity?
It appears from some reading that different entities are able to claim different business expenses against income.Can someone explain the differences in the allowed business expenses that can be deducted when using LL...
Neddie Smith
Partnership Income / Deduction Split
Hi BP. I have a feeling this will be a stupid question but here it goes.I have a partner who only wants the tax benefits of real estate and is not concerned about the property income. Is it possible to purchase real e...
Chisolm Tessem
Need help with a rental example from bigger pockets
I apologize i advance if this is not the place for this. I've been learning all I can to ready myself for an entrance into real estate in the next few years and have run into a problem that I think I'm missing a piece...
Brad Wood
Live-in duplex depreciation schedule
Grateful for some guidance BP community--
My first property is a row house with an English basement rental unit, that has its own certificate of occupancy and is registered with the State and has a tax ID. Given that...
Account Closed
Are Principal Payments Subject to Income Tax? Asking for a Friend
What's up everyone! A close friend and I just had a discussion regarding the tax treatment of P&I. Whoever is right gets a bottle of Tito's so, no pressure here! While talking up funding strategies, I mentioned to...
Lance Lvovsky
Tax Reform: IRS clarifies interest on HELOC often deductible
There seems to be confusion regarding how the new Tax Laws affect the interest deductibility of home equity loans and HELOCs. A lot of folks think the new laws do not allow deductibility of interest on their HELOC. Wh...
Shaun Reilly
Rental Propety Tax Advantages
Owning rental real estate offers many tax advantages. I don't think anyone that has looked into the strategy for more than 15minutes would be surprised by that.
However it does drive me crazy when pe...
Malik Javed
Maximizing Tax Savings with Cost Segregation: A 6-Unit Apartment Building Case Study
If you're a real estate investor looking to maximize your tax savings and boost cash flow, cost segregation might be your secret weapon. Here's a case study on a 6-unit apartment building that shows just how much you ...
Paul C.
Interest deduction for line of credit
Wondering if someone knows the answer to these tax questions... perhaps @Steven Hamilton II ?If you use a line of credit to finance the purchase of a rental property (not a HELOC), I know the interest is tax deductibl...
My Nguyen
Depreciation On House Hack Primary Residence
Hello fellow investors,I'm currently house hacking, renting out my basement (around 740 sqft). Can I claim depreciation on this property since it is my primary residence? I bought this house in August 2022, only live ...