Account Closed
Taxes and renting a room out in my home?
I rent a room out in my SFH. It is currently rented for $100 per week. How will this affect my Taxes? Will I be able to deduct a portion of my mortgage and property tax as a cost of business? What other implications w...
Nathan Claire
Financing For Self Employed
Hey there, I am a real estate investor in Jacksonville, FL and I had a question about that best way to get financing for properties without currently having any income and not having 1-2 years of self employment tax d...
Don Pham
Recently Self-Employed: What income do lenders look at
Hello!TL:DR What income do loan officers look at? Total, Adjusted Gross, or Taxable Income?More in-depth: Should I file as sole-proprietor and reduce my tax liability by reducing my adjusted gross income (pays more SE...
Weng L.
How to file tax return if single-member LLC has EIN?
Hihttps://www.irs.gov/businesses...According to this IRS guideline, I am supposed to use SSN to file tax return for my LLC (I am the single member of the LLC). I searched in BP and folks here said single member LLC ca...
Martin Andersson
Depreciation calculation after 1031-exchange
In 2016 I did a 1031 exchange and I'm trying to figure out the depreciation for the replacement property.This is the information I found when doing some research:http://www.1031.us/PDF/Depreciationof1031.pdfLet’s say ...
Trist Baylon
BEST TAX STRATEGY with W2, LLC and Partnerships!!!
Hi guys, need help with our tax returns. We've been going back and forth with the lender and our accountant. We do have LLC; two houses in Huntington Beach with ADUs, STR in Big Bear under our name and our LLC and tw...
Anthony Sierra
Debt to Income Ratios
Hello - I currently have one rental property and one primary property which I live in. I purchased my primary residence 2 months ago with an FHA loan. My primary residence is a 5 bedroom single family, which I rent ou...
Account Closed
Current Landlord for my family's rental home trying to maximize profit, need guidance
Hello new to the forums here, first off I'm loving the site and plan to use it to it's full potential.I have alot of questions but I figured I'd start out with something that is relevant to my current situation. I cur...
Sharon Hsu
Real estate tax in California
Hello everyone,I live in California but I recently sold my rental property in Ohio. I experienced a loss in terms of property sale and operational costs (managing and maintaining the property etc). Does anyone know wh...
Gabriel C.
Income taxes on just one rental
Hello,
I have a W2 and i own only one rental property. It is a Condo. I usually use a CPA to do my taxes, but this will be my first year as a landlord. The condo is on my name and not an LLC. I put down 20% to acqu...