David Y M.
Tax Schedule E Questions for Active Participation Loss
Current Situation - Trying to tax plan for 2020 tax year- househacking with SO and 3 other roommates, and planning to claim active participation and claim a deductible passive loss- Deductible expenses are based off f...
Guevara M.
Should I be taking a depreciation on my rental?
I bought a rental (Town Home) back in 2004 & have been taking a depreciation so that I could get a bigger tax return. The CPA that did my taxes this year advised me that I shouldn't be taking a depreciation if I ...
Jonathan Conaghan
AirBNB is asking Congress to step in and provide relief for STRs
The following link from Business Insider discusses proposed relief that AirBNB has asked Congress to implement in light of policy changes they have made impacting property owners revenue. https://www.businessinsider.c...
Joshua Dorkin
Bailouts Now Totaling $10.8 Trillion
This morning I heard a report on CNN and was blown away by the numbers.
The total amount that we've borrowed since 2008 in all the bailout plans so far amounts to a RIDICULOUS $10.8 TRILLION!
Check this page out for...
Brandon Turner
The best piece of financial advice I ever received was __________
Fill in the blank:
The best piece of financial advice I ever received was __________.
George P.
(income tax question) Active vs. Passive
My CPA advised that since I will be managing the rental myself, rental income qualifies as Active (=earned) income (vs. Passive).
Does that sound right?
Jered Sturm
Tricky Tax question on sale of primary residence.
So I will begin by saying I have already spoke with my CPA regarding this. I am here for second opinions from other wise investors and CPAs. I purchased a home 9 months ago to live in with my wife. Shortly after I bou...