Brian Stinson
Insurance deductibles for SFR
Curious of what everyone is electing their SFR deductibles to be? My thought was the higher the better to maximize cash flow. I have been keeping them between $9,000 to $10,000, does anyone go higher?
Jennifer Van vlymen
What are Tax law on HELOC
I live in California and want to pull out a HELOC to buy rental property what are the downsides of doing so as far as what will I be taxed on and a percentage rate for that
Russ Roslewski
Househunting expenses deductible?
At the beginning of last year we owned one single-family home as a rental property, in another state. Last summer, my wife traveled there to look for another property to purchase, found one, and we bought it. She al...
Yuriy Tymoshenko
Meal receipts and Taxes
Good time of the day to everyone! How do you treat your expenses for eating while you working on your property away from home?I purchase and renovate my own properties. While I am renovating my properties I am forced...
Chris Clemptor
Rental tax question depreciation confusion
I understand that you can subtract from your tax burden on a rental property using depreciation. I also read that it's based on the house value only, not including the land. I am wondering how most people figur...
Linh Lynne
How to handle passive loss on rental properties
Hi-
I have been doing my own taxes and the last few years, I have noticed that none of my passive loss on rental properties can be deducted from my tax because I am not a real estate professional base on the IRS ru...
Holver Rivera
Rental interest deduction
If cash out proceeds from rental property are used as down payment for owner occupied property, is interest expense on rental property eligible for tax deduction? If not, does the timing of the transaction have any im...
Bette Hochberger
Understanding the Basics of Real Estate Taxes
Hello everyone!As a CPA specializing in real estate taxes, I often get asked about the basics. So, let's start with an overview:1. Property Taxes: These are local taxes levied by the county or municipality on real est...
David Zheng
Taxing rental income or rental cashflow
Quick QuestionAre you taxed on rental income aka the total rent you charge per month or are you taxed on the cashflow after mortgage, interest, insurance, HOA fees, utilities, fixtures, etc. etc. are all paid?Like if ...
Jonah S.
Rental loss carryover vs depreciation question
Hey all,
I have been doing some learning about tax implications for owning rental properties and I had a question.
Its my understanding that you can carry over net operating losses from year to year basically indefi...