I want to know if it makes sense to buy a rental property as a sole prop, would it help me when i file taxes as i may be under loss based on income from property may be less than expenses

I have a tenant in South Carolina that I'm evicting for not paying their rent. I know that there are holes in the interior walls that looked as if they maybe have been throwing a baseball against the wall. I think I c...

Hey everyone, I am hoping someone can help me out.I already mailed my previous tenant their security deposit claim letter, but I just realized I left out a couple charges (about $100 worth). I was wondering if it is p...

My tenant moved out but left behind 90 little pieces of mounting adhesive tapes she used to hold up shades in the sunroom. They are all over the sunroom metal frames. I tried to remove it without luck (I don’t know th...

Last year I filed my taxes as single, and owned a rental that returned a loss. I was able to deduct the losses on my taxes.This year, I am married. The same property once again has a loss. If we file jointly, it seems...

Here's my hypothetical future situation: I work part time for 15 an hour sometimes 40 hours a week sometimes much less. Since I'm not full time my concern is I wont be able to get affordable healthcare. I plan on even...

Hello guys,While I've listened to many bigger pockets podcasts, I'm new to the community and this is my first post. At 30 years old and after a long educational journey to become a doctor, I'm finally at the point in ...

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...

I am looking to make a sizable SEP IRA contribution to reduce my tax liability, but I don't want to hurt my ability to borrow in the future by not making enough income.  Is SEP IRA contributions added back in the way ...

Hi,I've recently purchased some lawn equipment (leaf blower, lawn mower, weed trimmer) for the sole purpose of maintaining the property around my quad.  How do some of you handle depreciating this type of equipment, a...