Michael Clemson
Emergency Room trip tax deductible?
I hit my head at my own rental this weekend, lacerating my head and taking a trip to the Emergency Room. I'm the proud owner of a few staples now! (No Urgency Care in the area on weekends.) I'll at least have a co-pay...
Pete Kay
Tax strategies for selling stocks and invest in property
Hi All,I’m selling stocks (selling around $500k , around 50% of it is long term gain) to invest in a property. I’m already in high tax bracket ($350k income) . I’m selling mostly long term capital gains but I need to ...
Camden Towne
Any creative ideas of home financing - somewhere between tiny home and minimalist?
Hello,I am at the cusp of finishing a medical education program, with a significant income increase on the horizon. My wife and I will be education debt free after significant work and serendipity. That said, we are h...
Andy Vasquez
Primary Turning Into Rental
Hi All,New to the game here. Really appreiate this community and everyone's never ending help.I have been living in my current home for 3 years. I am renting out starting June 24. Is it safe to assume that the loan in...
Scott Parker
Life insurance requirements from lenders
Hello all, I have an investing question in regard to lenders requiring life insurance. I have apparently reached a threshold with my bank (a million dollars in loans) and they are requiring me to get a million in life...
Bryce Till
Taxable Rental Income From Primary Residence
BP, I live in Utah and wanted to get some opinions and insight for the below inquiry I will have to include rental income from my spare room in my primary residence. I want to know how this will look on my income ret...
Mindy Ma
California Market Difficult for First Time Homebuyer - Worth it?
I'm looking to buy a property (first timer) for that is a bit over a 1 million with 25-30% down. I will be living in it with my family.
Due to the high prices in our current market, I may not be able to cover the en...
Cameron Skinner
How to write off your trip to Disney
@Brandon Turner recently touched on the deduct-ability of travel when visiting your out of town properties on the podcast, so I thought I would chime in. You may deduct 100% of your transportation expenses only if y...
Tyrone Maxwell
part time agent tax help
Hello I just have a question I ant seem to find the answer to. Can an agent with a fulltime job that is currently providing a way of living in another non related industry have any tax breaks from his realtor business...
Larry Flanagan
Fringe benefits to reduce income taxes
I got a $65,000 income tax bill today. Is there any way my business can provide me with some deductible fringe benefits like a company car, health club membership, life insurance, etc?