Joe Pea
Mortgage: file all, some, or no business expenses on tax return?
I'd like to get my first home maybe within a year. While filing my taxes right now, should I file all, some, or none of the my business expenses? I'm curious to know if 1) it is okay to file no expenses, and 2) would ...
Josh Atchison
401k loan for real estate.
I am going to take a loan of $25,000 out of my 401k for a house hack. My wife’s student loan is an income based repayment plan. As I pay my 401k loan back, will this in anyway help lower the loan payment?
Lucas Rowell
Utilizing property to reduce taxable income
Hello and Good evening BP Brothers & Sisters.
Tonight I wanted to post a question I have been thinking a lot about lately. "How could an investor best utilize property to lower taxable income"?
We currently own...
Woojin Joo
how to calculated expected tax savings with first property?
How much tax savings can be expected with my first investment property? How can I do the calculations myself? I pay a lot in taxes in my W2 job, and would like to know how much can be offset.Does the math change signi...
Casey Gilbert
Tax liability on total loss insurance payout
We lost our STR this spring due to a wildfire. Our insurance (replacement policy) has paid out the cost to rebuild which our mortgage company is holding. Every cent of this insurance payout will be going to rebuild th...
Kurt Granroth
Dissecting and Understanding a Schedule K-1
I just got my first K-1 from a multi-family syndication and want to understand it. This is the actual K-1 with real numbers and only personally identifying elements have been removed. I'm going to describe what I th...
Abdul Aziz Tambadou
High Property Taxes in Detroit 48228 - Seeking Veteran Investor Advice
Hello Fellow Investors,
I have a concerning situation with my Detroit property (48228) and could use some guidance from experienced local investors. Here are the details:
- Property value: $70K
- Square footage: ...
Account Closed
Texas property tax question
Hi all, I am a newbie here working on 2.3m deal in Houston. The listing is completely off market and seller financing. The current property appraised value is 1.1 m and I am buying it for 2m because of great cash flow...
Wendy Cheng
Depreciation (capital cost allowance) on rental property
Looking for some advice... I am purchasing my first rental property, a triplex. I would like to know if there is anyone doing depreciation on the rental property? I know that CCA deduction claimed will become taxable ...
Merrill Delimont
Reinvest my monthly rental income to avoid claiming it on taxes
I have recently bought 1 property, and am in the process of buying the second one. The first home collected rent December 1, and I earned 500 over what I owe. My second property should make 700 each month. My plan ...