Caleb Carlson
Tax write off for my LLC
After 1 year with my LLC I'm wondering if it would be smart to sell my personal car to my LLC as a tax write off. Has anyone ever done this before? Is this a bad idea? Thanks for your input!
Joel Oh
Write off luxury car under STRs?
Hey guys, thinking about purchasing a car this year and wondering if it is possible to write off a luxury car for their STR expenses.My tax advisor said that I will need to prove this car was used for the business.I k...
Zachary Kubacki
Pittsburgh PA REI Accounting Questions
I am looking for some advice and have some accounting questions, I am starting my LLC for REI and could use some help clarifying some stuff up.
Samantha Chouinard
Three-Day Unconditional Notice to Quit - Parking
A landlord served a Three-Day Unconditional Notice to Quit due to"Violating the Lease Terms" by parking in the correct location. This is a three-bedroom home and the lease mentions three parking spaces ( two in front...
Keith Ghion
Small Business Owner Retirement Entity Question
HI everyone,Hoping to gain some insight to this question, I've searched the forums and haven't seen this specific question answered though I can't imagine I'm a unique case. I'm trying to figure out the best vehicle ...
Jeff White
Tenant wants to put Utility Trailer in backyard?
Hi all,My tenant has asked me about putting a utility trailer in the backyard. My property is a single family house hack with a huge backyard where these tenants live in the upstairs part of the house and I live in t...
Gary F.
CPA or Tax Experts: 2018 House Hack/Rental Property Deductions?
It seems because the new 2018 Tax Reform laws are so new I can't seem to find real answers. I searched here and nothing for 2018 tax year came up. Maybe a CPA can chime in. Scenario:Im renting out rooms in my primary...
Mike Cimoch
Tenant parking RV on the neighboring property
I just closed on two single family houses (They are next door to each other but separate properties) in south Florida. The tenants in "house A" on a month-to-month lease have parked their Inoperable RV in the driveway...
Jeffery Olaru
Opportunity Fund & Capital Gains question!
Currently infatuated with opportunity funds and in dying need of ideas to manufacturing capital gains other than Real Estate, Stocks, Bonds, and Mutual Funds. An idea that I've been brain storming is to sell my car t...
Ron Singh
section 179 deduction : split possible ?
Hello Hello ! Going for a business vehicle purchase and wondering: if the cost of vehicle is more than business ( property rental ) income in the tax year, can it be split in two consecutive years ?for example : Rent...