Mike S.
Use a home mortage to finance an LLC
I am looking to inject (contribute) some money into one of my LLC to finance some new acquisition this year.I am refinancing my home (that is under my own name) and will use the cash out as contribution into the LLC.I...
Tanya Patience
Strategy question: Depreciate or Expense?
Hi! I've searched around a ton to find a simple answer to this to no avail. Maybe because it's been hard to wade through the flood of information on depreciation and expenses.I wanted to know the strategy behind wheth...
Andrew Gudmunson
A brief overview on taxes
I just put an offer in on my first rental property! I’ve been back and forth a little bit with the sellers and it seems like we settled on terms that work for both of us! I’m super excited but I have a lack of knowled...
N/A N/A
Getting around the AGI limit for passive-loss deductions
My wife and I are looking into shopping for a rental property. However, our AGI is above $150,000 a year, and neither one of us is a real estate professional.
Because of that, it looks like I would not be able to ded...
Rick Im
Do these expenses qualify for start-up expenses?
Hello,
I purchased my first rental property on October 4th. After a month of renovations, I listed it on the market on November 19th and secured a tenant with a lease starting on December 10th. Before this purchase, ...
Susan O.
Tax Writeoffs Out of State Property-
We reside and pay California tax. We have rentals in Ohio, Hawaii and Nevada now. For travel expenses we have racked up a lot of expenses on a property in Hawaii. For the Hawaii duplex. We legitimately have been fl...
Ariel K.
How to Read a Syndication K-1
This is my first time investing in a syndication and I received a K-1. Box 19A had 'distributions' and there was a capital loss as well in box 1. My understanding is that I shouldn't pay any taxes on the distributio...
Sam D.
Tax write-off in investment property
Hello, I was wondering if you stay in your investment property and if you make some repairs can you write it off ?In my case, one of my tenant is leaving and I was thinking to stay there for few months and get the hou...
Colton S.
What costs are Tax Deductible?
Hey guys,I have been reading and we are buying our first house in the next month and want to know exactly what you know is tax deductible. I have read that interest is, as well as property taxes. Is there any closing ...
Evguenia W.
How to write off Net Operating Loss on taxes?
I have a Net Operating Loss on my LLC of $43,320 in 2018. Question 1) How much of it can I deduct each year for my personal taxes and for how many years?Question 2) Can this NOL also be used to deduct future business ...