Joel R.
Am I required to issue 1099s to contractors if I only have one rental unit?
Hello Everyone! I am looking for some advice regarding the 1099 / 1099-NEC tax forms and whether or not I must issue these to contractors for my specific rental property. I currently own just one property (a duplex) a...
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 ...
Steve Gume
Can my LLC own a new home and rent it to my wife.
I own a LLC(100% sole owner). LLC has been registered for real estate renting. This LLC owns a commercial property which is having a net income of $1000/mo today. Can I buy a new home in this LLC(bank willing to provi...
John Anderson
HELP: Tax-Write-offs or limiting losses w/ high day job income?
Hi everyone, I need some tax and legal advice in my situation where I have been incurring a good amount of unexpected expenses, and after some research tax rules seem to allow up to $25K of write-offs a year, but is p...
Tanya Patience
Strategy question: Depreciate or Expense?
Hi! I've searched around a ton to find a simple answer to this to no avail. Maybe because it's been hard to wade through the flood of information on depreciation and expenses.I wanted to know the strategy behind wheth...
Armen Haroutunian
Owner-Occupied Duplex Analysis
Hey everyone, this is my first post on here, and I was looking at creating a template to analyze owner-occupied duplex properties in Los Angeles. The reason for the analysis is to compare purchasing a SFR vs an owner-...
Christopher Lombardi
Self Insurance
Does anyone know if any banks would allow an investor to self insure their properties? I asked a few of my bankers as well as friends in insurance and no one seems to have an answer. My issue is, with over 80 homes ...
Tar-U-Way Bright
How could I use my LLC
Hello Everyone,
I'm preparing to purchase my first investment property in the new year, which I plan to house hack. I already have an LLC that I originally set up as a business entity to facilitate managing, overseei...
Konkova Irina
Becoming real estate agent on the side while having W2
Hi Everyone,I am having a W2 job that pays well and I am happy with the work. Recently, I passed RE salesperson exam and about to get a license. I did it mostly for my own deals but now I am thinking I might casually ...
Christopher Davis
Tenant security deposit deductions: soft things like time and labor?
Currently doing repairs from a tenant departure. Shocking how little regard people have for a brand new house that doesn't belong to them. Life lessons!One of the allowed deductions beyond material damage is wear tear...