Steve Caldarone
Tax deduction/mileage
Anyone know if mileage can be claimed for long distance real estate investment. In the past I have had several yearly visits to property (1000 mi away) and claimed air, vehicle rental 50% meals, etc. This year I ...
Dalton Dellinger
Tax Deductible Expenses
Hello BP! So I was creating a spreadsheet to track all my business expenses. Is my phone bill tax deductible since I use it for business purposes? I offer internet to my downstairs tenant for free (I am house-hacking ...
Nathan S.
CPM- Tax Deductible?
I have been considering getting my CPM (Certified Property Manager) designation both since my day job is in Property Management and I moonlight managing my own property investments. The program is approx $6000 to com...
Fred Stevenson
Allowable tax deductions
I'm an active investor, but I don't qualify as a professional REI. I'm trying to understand what types of business related expenses I can deduct. I have created an LLC that I will be using to buy my investment prope...
Jeff Fairchild
Tax deductions rentals
This article:
http://www.googobits.com/articles/1349-taking-a-tax-deduction-for-home-mortgage-interest.html
says near the bottom of page 1 that you have to live in a vacation home 14 days of the year in order to deduc...
Allison Bagay
Education tax deduction
What are the requirements for education deductions for the state of Pennsylvania? I am not talking about an actual college education. I am referring to an online film industry seminar that I chose to participate in. T...
James L.
Tax Deduction Question?
When I buy a home with a 30 yr mortgage at a rate of 4%, I have a payment each month for 30 years. Some of the payment goes towards paying down the principle; some goes towards interest. I then get to deduct the inter...
Vikram C.
Major Tax Deductions
I'd like this thread to be a place where we compile a list of the major tax deductions available to a real estate investor. Since I do flips, I do not get the benefit of depreciation, but here are a couple of good on...
Account Closed
Tax Deduction Clarification...
Can anyone help explain how this works for an investment property? In order to arrive at an estimated value of tax deductions for a rental property would you:A) Add up your annual depreciation, operating expenses and...
Erik Schilling
Inspection tax deductible?
Hey guys,I was wondering if I get an inspection done on a potential investment property, but dont end up purchasing the property, is the inspection cost still tax deductible?Thanks