Hi all! My current full rehab duplex project is owned by an LLC which owns nothing else or has not generated income yet.  My question is can I use the expenses incurred on the project as deductions even though there h...

Over the years, it's been told to me over and over that taking the mileage deduction is better than the alternative of expensing a vehicle (forgive me if I got the term wrong.
Recently, some highly successful investo...

Take advantage of depreciation: Depreciation is a tax deduction that allows you to recover the cost of your investment property over its useful life. By taking advantage of this deduction, you can reduce your taxable ...

I need to change my old SUV that I used 100% for business and I have a couple of questions that I need answer on before I will make my decision.I base my thoughts on fact that president signs $500,000 section 179 dedu...

Does anyone have a rough list of deposit deductions that are typical to withhold? Not needing large item repairs but things like basic cleaning, burned out light bulbs, dirty air filters, replacing stove burner trays,...

Do I have to fill out Part II “Special Allowance for Rental Real Estate Activities with Active Participation” of form 8582 “Passive Activity Loss Limitations”?

I am married, and our combined AGI is $125,000.

We mak...

Bought my first SF rental in 2017. Was excited to begin doing my taxes and deduct all my expenses I spent in re-hab, travel, etc. Turbo tax is indicating that if you make over $150k then rental deductions are not allo...

Hello all.
I have a question that may not be able to be answered here, but I will try anyway.

I own a number of properties that have been purchased within the last 2 years. The problem (and may not be a probl...

Did you know there are multiple career and finance tax deductions that you may be overlooking? Here’s a list of some great tax deductions to tax advantage of!

Lifetime learning credit - This credit allows you to ta...

Hi!  I'm new here and I have a basic question. I own a Single Family home and deduct my mortgage interest. If I am buying an investment property am I also allowed to deduct my Mortgage interest? For investment propert...