Ellen Womack
Itemized Landlord Letter of Damaged Property (Security Deposit)
Where can I get an itemized letter of damaged property as it pertains to the security deposit? I've combed the internet for NC. What am I missing?
Jolee Zhao
Questions about depreciation deduction income limit and set up costs
Hi all, Happy New Year! I have a couple of specific questions that I'm looking for your help in answering to determine the best strategy in listing my first rental. Much appreciated in advance!Questions - 1. Would I b...
Sam Stout
Interest only under TCJA
Hey! Can anyone explain to me the new rules under the new tax plan about the limits of writing off mortgage interest, specifically on your primary residence? I've hear it may be really beneficial to switch to an int...
Andrew McAfee
How to Account for Closing Costs?
I just bought my first rental house, and I am not sure how to account for expenses for first year accounting. I understand how expenses are calculated for 2nd year. I have been researching and have read mixed result...
Joe Pea
Section 179: buy items one year, sell them the next year, repeat?
Can I take advantage of Section 179 by purchasing something in one year, selling it the next year while buying a new thing the next year, and repeat each year?So for example,buy property for business in 2018, get Sect...
Michael Lynch
Capital Investments vs Repairs
I'm new to BP in terms of posting, but not in terms of reading/podcasting. I currently am an owner of two duplexes in Buffalo; one I live in and rent out half (owned 2.5 years) and the other I formed a partnership (LL...
Brian Bradley
CA Residents Protect your Assets through State Exemption
If you are a CA resident searching about Asset Protection one option for your, if you qualify, is the Private Retirement Plan (PRP) which provides one of the highest levels of protection for your assets. PRPs are ide...
David B.
Depreciation to wipe out taxes from early IRA distribution?
Let's say i take an early distribution from my IRA, and buy a rental property.Can I use the new accelerated depreciation to wipe out the taxes that I have to pay on this distribution?
Kirsten Ostby
Best Home Warranty type companies?
I have a SFH rental in North Carolina and I'm looking into getting some type of home warranty plan for the appliances and HVAC systems. Does anyone have a company they recommend? I would prefer one that doesn't charge...
Joel R.
Am I required to issue 1099s to contractors if I only have one rental unit?
Hello Everyone! I am looking for some advice regarding the 1099 / 1099-NEC tax forms and whether or not I must issue these to contractors for my specific rental property. I currently own just one property (a duplex) a...