My business partners and I typically meet out somewhere when discussing shop to take advantage of our business expenses. However, I was curious with Memorial Day weekend approaching am I able to hold our meeting at...

Selling an investment property can result in significant capital gains taxes. To minimize this tax burden, consider the following strategies:1. Utilize a 1031 Exchange: Under IRS Code Section 1031, you can defer capit...

Hello everyone, I have a question in what sort of activities that can qualify me as a real estate professional.

I have a few rental properties and my rental income is my only income. I only spend about 2-3 hours p...

I have a long term rental (SFR) which I converted to an Airbnb in October 2019.  My property manager is acting as the host and we have already had multiple bookings. 
Questions:
1. Is the Airbnb considered "Active" ...

Hi Community Newbie to the community looking to get started in rental properties.  I've heard of people using rental properties to lower their taxable income but I'm not clear how this is possible.  From what I'm gath...

Looking for a little help on the schedule E for Fiscal Year 2023. I and a partner are trying to figure out this best way to handle taxes for 2023. 3 units are being renovated currently, how do we know what cost should...

We are going to build a personal home.  We have a lot of equity spread out over 13 of rental properties, and we don't qualify for a home mortgage to be sold on the secondary market due to so much self-employment incom...

Hi everyone,
I purchased my first rental property in June 2023, and it took until December to prepare it for tenants. I posted the listing on December 12, and my first tenant moved in on December 26th.
As I’m filing...

If you own rental property and also have a full time job, but you do not have an LLC (or any business for that matter), can you still deduct a car lease from your taxes? My girlfriend is a realtor, and when she didn't...

Good morning!I'm a Tax Preparer in CA, and recently I've been getting more and more clients requesting to not take certain deductions on their tax returns because they want to keep their income high for lending purpos...