Erik Karpinski
Renting out rooms in soon to be purchased house
I plan to purchase I new home within the next month and was planning on renting out 1-3 rooms to future friends/tenants. I’ve done a little research regarding tax deductions for the portion I am renting out but was lo...
Daniel Parlegreco
Can I start an HSA?
Hi guys,I'm very confused as to whether or not I am qualified for a HSA account. I have a subsidized family obamacare plan that has the following deductibles:$2450 per member$4900 per family My health care plan does n...
Becky Haag
No deduction for short term rental expenses for days not rented?
If I'm understanding correctly, you can only deduct expenses for the days that your short term rental is rented. For example: If you rent out your property for 250 days of the year, (which would be about 70%) then y...
Benjamin Gonzales
Looking for advice about my next move
My current portfolio-
Home #1 Cache, OK, Rented out for the past 2.5 years (VA loan)
Home # 2 Lacey, WA, Primary home for the past 2 years on the 23rd of December (VA loan)
Zero cash flow
Option 1- Sell my home in...
Hilary Hageman
First Rental - How to set rent, Property Insurance
My husband and I just purchased our first investment property: a 3 Bed, 1 Bath, 1075 sq. ft. single family home in Niles, Michigan. The asking price was $55K, we bought it "cash" (Home equity loan financed, $1,000 do...
Michael Thomas
Business account or Personal account
I’ve always had this concern do u need a business account bank account or you can use your personal account bank to do real estate investing. Do u need a create a different account if u put a property under an entity?
Praveen Kumar
Interest on HELOC deductible if used for investment down payment
Now that the interest on a HELOC isn't deductible on a primary anymore, I was wondering if it could be deducted as a rental expense if used as a down payment? I'm about to make an offer on a single family home using f...
Ray Slack
Question New GOP Tax Bill on 20% income deduction 4 passthrough
Quick question.. below is the new proposed GOP 20% deduction for pass through businesses. Is this like a standard deduction? or a cap? So, I have a S-Corp that is a pass through so if I make $100k income and $50k ...
Michael Hayes
AirBnB Rental in 1/2 of property. Do I understand the deductions?
Hello,here's my situation: I live in a house and rent rooms on AirBnB. What can I deduct?1) I live in 1/2 of the house (sqft). However it is only 1 bedroom: I rent 3 bedrooms on AirBnB. My research told me to split co...
Lane Kawaoka
Takeaways from the list of 2018 Tax changes:
1) Standard deduction and personal exemption combined and seems like everyone is getting more... so its a wash IMHO.2) Less deductions for those who don't have a business like real estate investments. Sigh... it just ...