Pete Fiannaca
Question: New Tax Plan and LLC Implications
Hey BP -Thank God we have people in this community who eat, sleep and breathe taxes, because this stuff is going way over my head. Couple quick questions regarding being a small time landlord, the new tax plan (TCJA) ...
Philip W.
Help! Tax Newbie in SC
Hey BP, I'm beginning a hunt for the right tax accountant in SC. I recently bought my first property, and have brought in a roomate paying rent to me. I have questions regarding how this affects my taxes, and would lo...
Yonah Weiss
100% Bonus Depreciation following up the recent podcast
If you listened to the newest Podcast about how the tax reform affects real estate investors (if not here's the link):https://www.biggerpockets.com/renewsblog/biggerpockets-podcast-269-how-the-new-tax-code-affects-you...
Amy Gardner
Income too high for real estate deductions?
Hello,My CPA recently told me that the $50k we spend last year can not lower our tax burden because I have too high an income? Something seems to be missing here...I have never heard of this on any of the podcasts (I ...
Puja Devi
Tax strategies on first rental property
Hi all - wanted your input on the following. I closed on my first OOS rental property 12/31/2021 (signed paperwork with notary) but the funds didn't settle until the new year. So on the CD, closing date is still 12/31...
Jason Sousa
Real Estate Accountants or Software for agents?
Hello! Wondering if any agents out there have advice on whether to hire an accountant or use software to track expenses. I'm not opposed to hiring this out, but want to be smart with my money - which may include hirin...
Eric Pruett
Buying owner-occupied home with ADU: MCC, depreciation, and taxes
I’m submitting an offer on a home for our family. The home has an efficiency ADU (converted detached garage) which we will rent out.
The property is also in a targeted area, so I qualify under increased income and pu...
Brendan Hula
Manufactured Housing Community - Depreciation
Hello BP Community!I am working to acquire a portfolio of manufactured housing communities and have a few questions regarding depreciation I was hoping to find answers to or be pointed in the right direction. My quest...
Melanie Baldridge
Power of Bonus Dep.
Someone I know bought a ranch to use as a short term rental property in 2021 for $1.7 million.
Engineers did a virtual site visit, they were able to assign a value of $347,000 to either 5-7-15 year assets that were e...
Josh Stroup
Tax Deductions on a Property Taken 'Subject To'
Hi Everybody,
I've looked into this online, and found a wide range of opinion, so I thought I would throw this out to the community...
When taking over an existing mortgage, can you deduct the mortgage ...