Julio Gonzalez
What is the Difference Between Tax Deductions and Tax Credits?
Real estate is an investment vehicle that comes with a lot of tax benefits which is why it is so attractive to investors. However, understanding the tax benefits and really grasping the difference between tax deductio...
Jesi Naomi
Help with building credit
High BP, I’m very new yet have had years of credit cards, building credit and working on consolidation. My question is if a credit card company closes out your card/ account from not using it overtime does this affect...
Andrew Postell
Yay! Tax Season! What you need to know on claiming deductions!
It’s tax season! Yay! Can we detect sarcasm when it’s typed out? Since April is fast approaching that means many of us will need to file our Federal Tax Returns. Even if you are filing an extension I have tried to...
Daniel Mendez
Property Investing: ROI Tax Question
Good evening BP,Out of curiosity, how much should one save off of the cash flow that one could make off every unit? For example, say I bought a home and it cash flows $400 a month after all expenses. Am I free to spen...
Kevin Wasie
Taxes like Donald Trump - Question
According to a recent article published on NYT, over 90% of Americans strongly agree that it is a civic duty to pay your maximum taxes, and many find that trying to dcrease your taxes is unethical.Personally, I want t...
Julio Gonzalez
Tax Update: Good News for RE Investors!
The Tax Relief for American Families and Workers Act of 2024 has been agreed to by Congress. (It’s not law yet and still needs to be signed.)Here are a few key provisions you should know about:1. Extension of 100 Perc...
Amy E.
Return of Capital or Profit Distribution?
We have a multi-member LLC are at the point that we want to begin taking money from our rental business. We can choose that the return is either counted as "return of capital" or "profit". If I take a return of capi...
Shawn-Karisa Shaffer
Can your Tax Return limit your borrowing power?
Hey BP community...I'm fairly new to the site, but been part-time investing for a few years. I have always done my taxes on my own (via TurboTax), and never seemed to be a problem. I admit I am not an accountant, but ...
Jim W.
Need Pointed in the Right Direction Who to Talk To
Hey everyone, this is my first post on BiggerPockets - I've been a lurker for a couple months now! :-)I have a rental house that I've owned since 2003. It's not a cash flow property right now... we probably make $50...
Robert Omoto
Taxable income. How do rentals help taxes?
First off, I realize nobody here is going to give CPA services for free. I am attempting get an idea of my taxes and found I am positive on my rental properties. So I am wondering how real estate produces a negative...