Can an s-corp owner /employee /officer claim an amount attributable to his own labor on a flip to help bring down the taxable profit?

For instance, if he did a portion of the work - perhaps the tile, some paintin...

I've come across this on the last few flips and wanted to see if anyone has any ideas of a way around the following example.

Buy a home on January 1 with the intent to renovate and flip it.

Complete the...

Hello,
Looking for the best way to layout bank accounts for a property. 
1- account for security deposit 
2- account for mortgage to come out of, that tenant pays into monthly via Zelle
3- account for property exp...

I passed FL agent exam yesterday. As a full time medical informatics, I like my job, so I will continue it. My home is in Tampa FL area. Real goal to get the license is to build our personal property profile in a no t...

Hi BP,I recently incurred significant expenses for the exterior of one of my properties, and am requesting your assistance in understanding what I may be able to deduct in the current year.  I would classify each of t...

Hey BP, just a quick question: What kind of expenses are needed to be paid in cash when purchasing a property? I know that there is the downpayment and closing costs (which include lender and third party fees). Are th...

Hey everyone,Stumbled across section 179 while looking for ways to increase my deductions. Anyone familiar with this? My wife and I bought a Ford Edge which is in our names, not the LLC. Will we be able to expense par...

Are you allowed to request a monthly budget from a tenant in the application process? Or, put it in the agreement that if they miss a rent payment you can request a budget with their monthly expenses?  Just curious.

Looking to buy first deal and need help analyzing it. Property Details-Asking price $202,800. (Lets say the bank doesn't budge and I buy it for this amount and seller pays closing costs).Foreclosure! Duplex 2 bed/1 ba...

Hi fellow BP members!
I'm considering buying a duplex mid-next year within the 400-500k price range to begin my house hacking journey. I'm aware of FHAs being 3.5% down payment compared to 5-20% for conventional, wit...