Khurram Mirza
Analysis considering tax on rental income and HELOC financing
hi guys, for the investors in Canada I noticed that the rental calculators do not consider 1) tax on rental income and 2) financing costs for HELOC (Home Equity Line of Credit) even if they are tax deductible ? Anyone...
Emily Senior
Do you need to LLC first?
Hi! My dad and I are looking to get into real estate investing together and are wondering what we need to do before we get started? Mostly we are trying to make sure we don't have to pay a lot of extra taxes that coul...
Account Closed
Am I thinking about the tax benefits of renting real estate correctly?
Question on rental income taxation:Thank you in advance if you can clarify if I am thinking about this right or not...-Assume I own a rental property in my LLC.-The property earns 2,000 in net rental income after payi...
Natalia Davis
Cash investing for short term ( less than a year)
Please recommend a SAFE way to invest cash ( ~20k) for a short period of time, about 6 months.
Account Closed
Best practices for bookkeeping if not under LLC
Hello,I’m closing on my first deal and have decided to hold off on putting the property under a LLC. Since I wouldn’t have an EIN to create a business checking account, am I allowed to simply open a new personal check...
Gary Barella
Best way to draw income from LLC?
I flip homes and I get paid from either at closing as consultant on the HUD or 1099 from my partner after closing. I currently want to show the highest income possible (future borrowing purposes) but pay as little tax...
Javan Bowsher
End of year accounting
If I have a guest stay for a week, starting in December and leaving January 1, how should I account for the revenue from that stay, as it is in the transition from one year to the next? Would all of the revenue go int...
Dan Shelhamer
Takeaways from meeting with my accountant
The other day I met with my accountant to do some year-end planning, especially since this is my 1st year owning investment properties. A few things that I took away from this meeting are listed below, and I was just...
Zak Klobucar
Tax Deduction General Questions
Just wanted to get some general information on tax deductions...nothing in depth, want to make sure I'm not completely off with my analysis.
When buying a property, there are a lot of items that can be deducted at t...
Kyle Goeman
Rental income or Management Income
Hi my name is Kyle, First time poster long time reader.
I have a question I would run past my accountant but not sure if its a dump question or not.
I have been in R.E. investing since 2007. I have a few rental pro...