Stephan Nemeth
Short term rental tax planning
Hey BP,I have converted a couple long term rental units to short term in 2017 and plan to convert several more in 2018. I was hoping to get in touch with a CPA to work on some tax planning for 2018 as well as get a b...
Emilio Ramirez
Pay Cash, Lose Your Tax Deduction?
I recently read somewhere, I think in Edelman's book, that if I bought a property for cash and then took out a home equity or some kind of note that the interest is not deductable versus if I purchased the property st...
Account Closed
Disregarded LLC Tax Reporting Issue - How Have You Reported?
Some background before I post - I am a tax guy - started at Ernst & Young in 1993 and have been in the tax business since. My full time day job is to argue with tax auditors.I have a situation that I'm curious ho...
Jacorion Williams
Tips and tricks for First Property
Hey Bp team!
I’m currently closing on my first property in 2 weeks using a FHA 203k loan to help with renovations.
This is going to bring my mortgage payments to around $2.3k per month.
My goal with the property ...
Peter G.
Sale of Investment Property - Taxes
I am currently going over my potential tax deductions for 2018 and I have the following question. Does my expenses on the sale of an investment property in the settlements document goes into Schedule E or do I redu...
Allison Lander
Selling Gas Station - Question (Help Needed)
Hi AllWe are selling our gas station/property and provided the buyer with the past 3 years business tax returns and are doing an inspection, but I received an email form the buyer saying their banker is asking for my ...
Joe Splitrock
What Do I Need To Know About Short Term Rental Taxes
We recently put a property under contract that will be our first short term rental. We have owned long term rentals for a number of years, so we are very familiar with how to track and handle expenses on that type of ...
Shan Vincent
Accounting Question- Investor with Real Estate License
I’m a realtor that manages the 6 units that we own as rentals. I’ve been doing this for 7 years. Our accountant has never said until now that I need to have real estate commissions to make our write offs more legit if...
Rich Semakula
Filing Taxes
Hi There,Just wondering if there is an advantage or difference between filing taxes using a Schedule E vs using a Schedule C. Could someone please help clarify?Thank you in advance for all your help!Rich
Chan K.
Looking for Experience CPA in Middlesex County
Hi,I am looking for an experience CPA from around the Middlesex County (aka Massachusetts License) to help me fills for my 2014 Tax. If you know of a good once, please contact me.I highly appreciate it, and thank you ...