Tim M.
accounting practice - recording personal loan to business
Hello all - First just want to thank everyone on BP for all the incredible info and knowledge - this is an amazing site!
I recently purchased a 4 unit rental. I took out a HELOC on my primary for the downpayment (3.75...
Jimmy H.
Intentionally Paying More Taxes?
I had a funny thought pop into my head as I began to prepare for the upcoming tax season: should I intentionally pay more taxes (by not taking all deductions/credits claimable) so as to be able to leverage that income...
Shane Moss
Bummed out over Genral Plan of Improvement Rule
I just closed on my first SFR today! I've been feeling good all day until I read more about the difference between repairs and improvements. More specifically, I'm bummed out over the General Plan of Imporvement rul...
Jason Y.
Heloc from primary residence vs Heloc from investment property
What are the restrictions on taking a HELOC from a primary residence vs taking a HELOC from an investment property?
I heard that HELOCS from a primary residence is usually used for remodeling and cannot be used for i...
Max T.
Tax Deduction for Landlords question
Can I deduct water bills and/or electric bills (common hall/basement lights) as a business expense for a non owner occupied duplex?Water is the only utility that the city does not allow to be split/submetered or put i...
Spencer Krautkramer
Can Deductions Exceed Rental Income?
I am wondering what happens if the expenses towards a rental property exceed the amount you get in rental income, what happens that that excess dollar amount? I am currently house hacking (living in one unit of a dupl...
Shane Clarkson
Taxes taxes taxes taxes
Hello everyone.
I’ve came here today in hopes of getting a few questions answered.
Does anyone know of a good free public forum where I can get help when I have a question about my taxes? I’m looking for the kind o...
Robin White
New tax plan and 20% pass through income deduction
https://www.facebook.com/latimes/posts/10156180010518010
Can I claim the 20% pass through income deduction on my rental properties if I am a full time employee for my day job?
Kisean Smith
How an LLC Works for a HouseHack?
@Linda WeygantI have a couple of questions and know exactly the right person to ask so I've tagged Linda Weygant a CPA that was on podcast #244. Definitely my favorite podcast by far not sure if that is because I'm an...
Monica Evans
Deduct paint cost from security deposit?
Experienced landlords:Generally speaking, when you are turning a property between long term tenants, do consider re-painting as a “standard” part of the process? Or, do you consider that as “extra” wear and tear and d...