Jonathan Petrillo
Optimizing Mortgage Interest Deductions on Investment Props
Is there a way to fully realize mortgage interest deductions on several investment properties? Our current principals on our properties are over the $750k limit so we could not deduct all of the interest paid? Will mo...
Raymond Shoe
Help with maintaining LLCs
Anyone have tips on maintaining LLCs? We created an umbrella structured an LLC with Anderson Business Advisors. Their monthly service is quite expensive and we would like to detangle from their services and manage the...
Forrest Dabb
Homeowner Capital Gains Exemption with seller financing - taxes
I need help, i have talked to multipile CPA's and they can't seem to find an answer to my question. I sold my personal residence this past year using seller financing. I still have a mortgage on the property. I pay th...
Hassan Oukacha
Turbo Tax and BRRR Strategy
Is it feasible to use TurboTax to file tax if you have rental properties acquired using BRRR strategy; which consists of using hard money to acquire a property, rehab it and then refinance it.If you’ve used this softw...
Chinmay J.
Is it me or its my CPA.. Need to break up !!
So up until last year, I used to use Turbo Tax, which even last year my taxes were getting a bit complex for TurboTax. So this year, I looked up a CPA that my family already had relationship with. He is a pretty smart...
Aaron Rosenberg
Massive losses, no deduction. Can a CPA please say it ain't so?
In 2023 my five properties across two single-member LLC's had 7 tenants just decide not to pay rent, and 3 roofs had to be replaced. Thank goodness for tax deductions, right? Before I was in real estate my business ...
Brendan M Hornung
Sub-To Tax Advice Needed
Hello everyone,I reside in Southern California and started my investment journey in March of last year by purchasing a sub-to single-family home in AL. I have had it rented out for longer than six months and I am look...
Mark Forest
Allocating vehicle expenses
Filing out my taxes is getting complicated. Thank you to all of you who have been helping me especially Steven. As I have already posted I have three rental properties I acquired in 2012, and one I have had for thre...
Chris Wilkening
TurboTax or Human - Help Me Choose!
I have one property that I purchased in 2019 from a turnkey provider, so there were no expenses on my part other than getting the mortgage. The first tenant moved in in January, so there was no income in 2019.Is the d...
Brionne Moss
How do you do your taxes?
Hey BP,So what I do know is that uncle Sam is coming one way or another. So my question is, how do you do your taxes? On every project? Every quarter? During tax season? Or something else? Also, how much are taxes in ...