Elizabeth Conklin
Guidance for tax mgmt for STR
I have rental income from my primary residence which I use as a STR, since we live overseas. In talking with my current accountant, I am concerned I am missing key items in my tax filing strategy including:1-Rental in...
Charlie McVan
two properties, going to add more, LLC, deductions and more!
Here is our current situation. My wife and I purchased a property in 2016 with two houses on one lot. We have recently finished renovating the house we do not live in. And will begin to rent it in the next month. Curr...
Jennifer J. Allran
Self-employment and FHA loans
I have been self-employed in healthcare for 3 years, but in the industry for 15. My business deductions greatly reduce my tax burden, but also my income on paper. However, my actual take-home income is much higher tha...
Tom Bud
LLC vs Personal Name
Hey all,I wanted to get everybodys opinion on my situation. I want to take the hardest step in the real estate investor world; BUY MY FIRST PROPERTY.I wanted to ask is there any benefits of completing a flip under an ...
Jake Sklanka
Are EOY Charitable donations from S Corp tax deductible?
Hello BP Community,I recently set up an S Corp for my RE business (Colorado RE Broker) at my CPA's direction. He's been out of office for the past few weeks and I want know if there's anything else I need to do before...
Jean Bolger
What do you think of this seller's Schedule E...
I was looking at a group of 4 fourplexes as a package deal. I had done my projections (yay! 50% rule) and things were looking good. Showed it to my lender, things were looking quite good. (yay!) Then, I get the seller...
Andrew B.
Property Management, Schedule E or Schedule C
Hi all,My wife and I are set to close on our first rental property next month which we plan to manage ourselves and we also manage a rental property that is owned by my parents. We both have income from W-2 jobs but m...
Shawn H.
Divorce and rental property splits...
I was divorced in 2012. My ex took some of the rentals and I kept others as part of our agreement.
These properties have been on a Joint Schedule E through 2011. Now that we are divorced, the plan was for me to con...
Brandon Hall
Bring Your Tax Questions
Hey Folks,April 15th is right around the corner and I constantly see the same tax questions pop up in the forums. Hopefully this thread can help serve as a running list of real estate tax questions and answers. Ideall...
Dan Shoemaker
software or web based apps to manage contractors?
Does anyone have suggestions? I'm looking for a task management and timecard tracking application to make sure contractors are as productive as possible ;-)