Paul Z.
Borrow money to pay rental property taxes: Is interest deductible
Hi there.This is about rental properties in Canada. If I pay property taxes using money from a personal line of credit, is the interest tax deductible?Thanks so much!Paul
Patrick Mong
Advice on Auctions and paying back taxes, mortgages, liens, etc
Hi BP Forum,
I am considering to participate in a real estate auction in San Diego. My question is about what the winning bidder must pay to fully take title of the auctioned property:
- Example: The winning bid is...
Nick M.
Would I have to pay taxes on selling the property?
Hi All,
Hope this note finds you healthy.
I'm selling a property which at the surface would make it seem that I am making a profit. However, after taking into account closing costs (from purchase and then sale), Ca...
Account Closed
Closing on January, Who pays for prior year property tax?
I will be closing on my first property in the last week of January. Do I have to pay for the prior year's property tax?
Daniel Rolon
For tax reasons: HML draws or pay cash for repairs?
For tax purposes is it better to do hard money loan draws or pay cash for repairs? Current scenario: House under contract for $105k, needs $15k repairs, ARV of $170k. HML terms are adding $30k to the purchase price wh...
Sean Wilt
Do I pay Sales and Occupancy Tax on cleaning fees?
I know I will have gross revenue from rentals for income tax purposes which would include cleaning fees collected. For income tax purposes, I know I can deduct the actual cleaning costs so that portion of revenue bec...
John Paul Terragnoli
Should my CPA file and pay taxes on my behalf?
Sorry for the stupid question. We got a notice from my CPA that our taxes are completed and have been filed. He sent an email saying that we owe about $1000 for our federal taxes and $2000 to NY. Question is, would...
Kelly G.
Tax Q: do I need to calculate/pay recapture depreciation?
Hey - I thought I was in the clear - but perhaps not (was about to file my taxes . . ). here's the shortest version on my situation:1) bought a house for mom in 2005 - she lived there til 2011 (not nearly long enoug...
Nick Zocher
Would You Pay This Much For A Tax Delinquent List??
Hi All,I am interested in adding a tax delinquent list to my direct mail campaign. I am in the Bay Area, and went down to the Alameda County Treasurer to learn more. I was told that the list would cost $450 (flat fee ...
Jeffrey Rittenour
Tax write-offs Paying family members to rehab a house
Hello everyone!
I'm in the Spokane WA Market. I've purchased and rented my first rental. During the rehab I hired my family who have a background in construction and painting to do the work for me as I work long hours...