Joel Oh
Write off luxury car under STRs?
Hey guys, thinking about purchasing a car this year and wondering if it is possible to write off a luxury car for their STR expenses.My tax advisor said that I will need to prove this car was used for the business.I k...
Chuck Dangar
Can you take a tax deduction if you have a Section 8 tenant?
1...Is it possible to take a tax deduction if you are receiving rent from the government for a Section 8 tenant? 2...I am looking at buying a place to buy and hold with a section 8 tenant already in place. The place h...
Laura Kaspari-Hohmann
What would you do with this extra house?
Hi BP Brain Trust, I've found a potential deal - it's a single family home with this property in back. In running the numbers, account for Capex, property management, etc. we would cash flow. The main house is vacant ...
Account Closed
Adding Projects for Free?
Hi,I would like to know if there are any crowdfunding sites that allow you to add projects without any restrictions i.e. free of charge. What crowdfunding site can you recommend and why? We may want to raise debt equi...
Bryan Hancock
Accounting For Unequal Contract Prices For Joint Venture Purchase Of Residential Lots
Scenario:
We're buying two residential lot contracts from a local wholesaler who set them up as $30k and $95k when the market values are probably (needs to be confirmed to see what is capable of being built) closer t...
Nicholas Moffett
TITLE SEARCHES ---- ONLINE / OR ATTORNEY ? --- and title INsuRANCE?
Here is a question regarding TITLE SEARCHES and TITLE INSURANCE I've been checking out alot of auctions on www.auctions.comI am wondering, is it safe / smart to do a title search with an online website for 40-60 dolla...
Ryan Pryor
Buying a car and writing it off
Hi all,
I was listening to a podcast talking about if you bought a new SUV and put your business information on it, you could write it off 100%. Does anybody know if this is true? Does it have to be a LLC? Or would j...
John Sherman
Buying 2n Investment Property
Hey everyone,I'm new to BP, but not to being a Landlord/property owner, since I've owned a SFH that I've rented out to graduate students in Long Island, NY for 18 years. However, I only recently finished "Rich Dad Poo...
Ryan Metcalf
Does the depreciation year still count is you didn't get to claim
I didn't get to claim the depreciation on a rental property on my 2016 tax return because my adjusted income was too high. I have the property in an LLC but it still shows up on my personal return. My question is, d...
Scott Esmail
Buying or leasing a vehicle
Does anyone know for tax reasons only is it better finance or lease a vehicle? I once heard leases are 100% write off can anyone confirm this, or is there any benefits to financing?Also does it matter what kind of veh...