I own a rental home that pulls in ~$400 / month or $4800 / year. I need a new car which is going to cost about $310 / month to lease (including insurance) or $3720 / year. I'm planning on putting this car under my bus...

It's time for me to renew my insurance policy and I wanted to know what some of you guys are paying in the Houston area. I know there are many variables, so I expect a variety of rates. However, as a general rule of t...

I am not sure on the specifics regarding the costs associated with tenants abandoning personal property.

Since we have 30 days to refund the security deposit, and if the tenant does not or refuses to claim any abando...

Hello, I live in Green Bay full time and recently bought a short term vaca rental condo in Nashville where I have a property management company run it. For me to swing the down payment I took some money out of my life...

Hi All,I purchased my first house hack last May. It's a 3BR house and I rent out the 2 spare bedrooms. I understand for tax purposes that I can only take two-thirds of the expenses related to the house to offset the r...

For years I have just been claiming the standard mileage deduction. We drove about 2500 miles last year and we are considering buying a vehicle this year. The vehicle is a CUV that will be under 6000 pounds and the ve...

Last year I filed my taxes as single, and owned a rental that returned a loss. I was able to deduct the losses on my taxes.This year, I am married. The same property once again has a loss. If we file jointly, it seems...

Do you hire someone to clean your properties and then bill the tenant or do you write if off as an expense? My state says property must be left in "broom clean" condition which does not equate to clean. I sent a list ...

You can still claim 80% bonus depreciation if you are looking to invest in Short-term rental properties this year.  In 2024, it will drop down to 60%.To maximize your tax savings you will need to purchase a short-term...

I haven't seen another post about it so I thought I would start one.  I've read the 9 page tax plan summary.  Although very vague, it provides a framework for what they are going after and mentions several things I th...