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Hi all, I have income that comes in from the highest tax bracket possible (over $1mm a year). I do have a strong CPA but was curious if anyone has any tips on things to look into that I might be able to do before the ...
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I’ve read conflicting answers on depreciation and how or if it can be used against w2 income. I have decided to get started investing in rental houses and I’m trying to understand the tax side before buying anything. ...
We used our existing HELOC for a 100% purchase of our latest rental property towards the end of last year. Can we write off the amount of the interest, $1446, as an expense for the rental property? The interest rate ...
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If one has a second home in a high-tax state that rents for more than 14 days a year and is used more than 14 days, would it make sense to convert it to a rental property, given the new tax law?
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I’m new to investing and I’ve been hearing cash flow is tax free. I can run the numbers for NOI-depreciation and this holds true, but not all of the operating expenses are deductible (or at least maintenance, vacancy ...
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So we’re planning on house hacking and getting into a 2 BR1BA duplex it’s currently priced at 160K the property is pretty much already rehabbed other than a few minor things (which is important to the wife for our fir...
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I self manage a portfolio of 6 units and am wondering about the correct way to account for general expenses that span multiple properties as tax deductions. For example, things like tools or building materials that I ...
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I am doing a cash-out refinance on my investment property. I will be using the money to invest in another investment property. Do I have to put the money into a 1031 exchange if I plan on purchasing before the end o...
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Selling an investment property can feel like a double-edged sword. While it's exciting to cash in on a successful investment, the looming capital gains taxes can significantly cut into your profits. For savvy investor...
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I am currently looking into buying a rental property. However I will pursue the deal that makes the most sense and wanted to confirm I am on the right track in regards to my understanding of tax write offs. I plan on ...