Ray Mungia
Tax Professional that knows easement tax rules in Texas
My client has a property that has a portion of it purchased by the county. Its an easement. Anyone know about the tax implications on that portion of the property?
Ed D.
S-Corp vs LLC for REI
Hi everyone,
Hope you all are doing great. First, I want to thank the folks here on BP it's wonderful to be able to speak to so many people who are willing to share good information with each other.
I come from...
Brigitte Garrett
De Minimus Safe Harbor rule
Looking for guidance on the following expenditures made and the application of the $2500 De Minimis Safe Harbor rules.Do either replacement of kitchen cabinets or replacement of flooring with laminate and vinyl fall u...
Donald D Michna
Capital gains taxes after retirement
I was speaking to someone about there rental property and they mentioned that if they sell one of their rental properties after they retire or have of income of less than $33k a year that they do not have to pay capit...
Shane Welch
Renovations on Taxes?
Hello, I recently purchased my first duplex and will begin renovations. I plan to paint cabinets, get new fixtures and doors, and replace the old carpet with laminate planks, along with a few other smaller tasks.How ...
Staton Jobe
STR Taxes: Rules for expensing taxes/insurance/mortgage interest
Hey everyone - Wanted to confirm something before filing the taxes for my STR, which is located in Virginia.Am I able to deduct all insurance, taxes, and mortgage interest for the year if my STR was available for rent...
Jeromy Asido
1031 exchange rules for tax returns
Hello,
My parents have a rental property for the past 10 years (purchased in 2010). They are wanting to sell it this year, but it is in a trust. They want to sell it for two townhomes where one will be paid off and o...
Scott W.
property tax question on 50% rule
i read where your operating expenses should be 30% of the rent.
The problem is our government (especially in my state) loves to spend & I'm at 27.5%! Not a lot of $ for maintenace, repairs, & insurance.
How ...
Arturo Borges
Does the 50% rule include taxes?
Hey!Does the 50% rule include taxes? Also, how are the taxes on multifamily properties made? As a regular LLC annually, quarterly, monthly?
Charles Press
50% Rule & Taxes and Insurance
The 50% rule (or guideline) says you should not exceed 50% of your gross income in debt service.I.e. Principle and interest payment every month. Example, your gross rental income for the month is $1,000.00.Therefore y...