Raj Gandhi
Shift taxable personal income to business
For purposes of reducing my personal taxable income, is it effective to run rental income & expenses through a business? I need some of the rental income for personal household expenses which would be a salary (r...
Peter M.
Are late fees considered taxable income?
I know deposit money is not considered income unless you keep the deposit at the termination of a lease but how do late fees factor in to taxes? Are they simply added in with the rest of your rent rolls? I guess the s...
Bruce P. Bellott
Need taxable income to pursue househacking?
Hello all! For the past three years or so I have been very interested in doing a house hack. I am in college and just starting my junior year. I have around 20 -25k to invest into a house hack in Lafayette, Louisiana....
Lucas Rowell
Utilizing property to reduce taxable income
Hello and Good evening BP Brothers & Sisters.
Tonight I wanted to post a question I have been thinking a lot about lately. "How could an investor best utilize property to lower taxable income"?
We currently own...
Andrew L.
Excess Insurance Proceeds - Taxable or Not
Hello,I own a commercial mixed-use property and recently had a fire damage part of the building, mainly on the ground floor commercial space. The rest of the building was only slightly damaged and is currently rented....
Lucas Rowell
Utilizing property to reduce taxable income
Hello and Good evening BP Brothers & Sisters.
Tonight I wanted to post a question I have been thinking a lot about lately. "How could an investor best utilize property to lower taxable income"?
We currently own...
Brett Roth
"Cash for Keys" a taxable expense?
Hello I recently did a sort of "cash for keys". I had a tenant that said they would rather be evicted than leave and rather than go through that I got them a hotel room for a while. Should I throw away t...
Craig Lessler
Taxable Gain on a partial 1031 Exchange
Hello everyone. I am doing a 1031 Exchange and want to verify the portion of the gain which is taxable.1. Relinquished property is being sold for $159,000.2. Adjusted Basis is about $60,000.3. Fix up expenses to sell...
Jeff Sharpton
Is an Earnest Money Refund Taxable Income?
We made an offer on some apartments last August and the Sale Agreement included $20,000 in escrow and $5,000 cash to go toward some current improvements. We cancelled the deal because of some unknown issues at the end...
Robert Omoto
Taxable income. How do rentals help taxes?
First off, I realize nobody here is going to give CPA services for free. I am attempting get an idea of my taxes and found I am positive on my rental properties. So I am wondering how real estate produces a negative...