Madison Giese
Deduction/Depreciation on owner occupied
I’m preparing my end of the year taxes and wanted some advice. Can I not deduct or depreciate maintenance or remodel/upgrade costs to the unit I am living in. I am nearing the end of year one as I purchased December 3...
Chris K.
I prepaid 2018 property taxes. Mistake?
So, following the near unanimous advice of everything I could find, because I have well over 10k in state and local taxes (and will likely opt for the standard deduction under the new tax bill), I went down to the Cit...
Michael Ryan
Landlord insurance help
Hello everyone
I've been visiting my insurance policies and was wonder if anyone has a system for walls in insurance? Is it based on square foot to rebuild and I should insure them based on zillow value. Both condos ...
Marisol Sanchez
Home office tax deductions for W-2 investors
Can I deduct my home office on my taxes if I have a W2 and do not yet have an LLC or a business license for my LTR investments?
Chris Pasternak
Not sure how to handle tenant issue
Hello, Longer story-short, I have a tenant that put in a complaint about a furnace in March. My partner, who was the PM at the time, who has since exited the picture, sent out a technician to repair the furnace. App...
Franky Davis
Do I need a real estate specific accountant?
Hello everyone! Hope y’all are having a great holiday season despite 2020 being terrible. I’m posting to inquire about some tax advice. First off...should I enlist the help of a real estate specific accountant? Or, is...
Paul Hogan
House Hacking - question about taxes
Hi all,I’m looking at purchasing a 2-family house—living in the primary unit and renting out the other unit. The percentage split is roughly 67/33% with the owner’s unit being the larger of the two. The rent will only...
AJ Witt
Personal Loan to Fund an LLC for REI
I have taken a cash-out loan on my personal residence to fund an LLC in which I am buying real estate.
From an accounting standpoint, what's the best way to structure this? Can I consider this cash infusion into the ...
Roman M.
Need advice on buying my first rental property
Hello BP community, thanks everyone in advance for your help, recently sold my personal property and was able to gain a profit of about 53k which I am planning to use as a down payment for my first rental property. I ...
Hai Le
Security Deposit Refund ?
I have tenant leasing my garage for $850 from May 1st to November 1st on a 6 month lease. He is planning on leaving tomorrow (August 3rd). He’s paid me for august rent already but leaving early. Do I refund him his se...