Hi, I'm wondering if you all consider home owner's insurance as tax deduction on your rentals? I'm reviewing my last three 3 years of returns where I worked with two different CPAs. I didn't notice this before but I n...

Considering purchasing my first rental property. Can anyone give me a brief description on the tax implications of owning a cash flowing rental property ? What are the pros and cons from a tax standpoint ? 

Hi everyone,I've been listening to the BP podcasts for a month now, watching videos, and reading forums. Love the content! First time posting.I've made a good connection with a lender who sent me a lead on a multi fam...

I am interested in purchasing the home of an elderly couple who wants to sell.  They have owned the home for a long time and have seen 10x appreciation.  This is their personal home.  In the event they owner finance, ...

I created a Single member LLC at the end of last year. I called my CPA to ask about any consequences transferring from husband/wife to SMLLC (myself as the sole member). He mentioned that I would have to choose partne...

Hi, If I have a single member LLC where the member/manager is a Trust and Me and my wife are the Grantors/Trustee of the Trust with beneficiary as the Living Trust. In this case can the LLC be considered as disregarde...

Colleagues and friends, The original GOP reform thread started by @Brandon Hall is well over 200 posts by now. This is one of the follow-up threads specifically for discussion of pass-through entities (Sch C / Sch E s...

I am investigating the option to move a rental property from direct ownership to an existing LP. I am the sole owner of both the property and LP. The property is free and clear and was purchased 10 yrs ago. It has als...

I have been doing my taxes for my rentals thru an LLC for almost 10 years using Quickbooks 2008.  I usually just send the necessary forms to the accountant to do my taxes. I have had some issues of late with the Accou...

Evening BP, Time for us procrastinators to start doing our taxes ! I have tried to reach out to several CPA'S and of course are all booked to take me on. So will probably stick to using Turbo Tax like ive done several...