So today I called my CPA to let him know that I’m going to be buying rental properties in the near future. I Wanted to get some insight on some of the tax breaks I would be getting for having rental properties, he ...
Sorry if this has been asked before...maybe I'm not using the correct keywords.I am confused about the mortgage interest tax deduction. I understand that it allows the interest on a mortgage loan to be deducted, but h...
Hi Everyone,I hope everyone is doing well. I have two questions that I am hoping someone could shine some light on. First, I want to start house flipping in CA full-time and I am interested in the best possible way to...
Can't take the credit, was searching for tips on tax breaks for Landlords and happened upon this link - http://www.nolo.com/legal-encyclopedia/top-ten-tax-deductions-landlords-29497.html
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Hi,I have an out of state rental property in Albuquerque, NM. My monthly mortgage is above the current rent ( ~3000 mortgages vs ~2000 rent). I manage the property remotely. My tenant will move this month. The estimat...
Hey guys, we often talk about the tax benefits of owning real estate. Do these benefits extend beyond the rental income? Could somebody give me a laymen's overview of how this works?
Along with Material Participation as a Real Estate Professional, you might also want to consider grouping your activities together. So a common question that I get is-
Do I need to group my rental activities together...
Can depreciation on rental properties be used to offset W2 earnings? So for example, if I make $100,000/year through a job, can taxes on that income be offset if I make a loss when I deduct depreciation from my rental...
Hi all, looking for some advice on how to get tax break on regular job income by buying real estate w/o having LLC or meeting 750 hour real estate hours invested?