Hello,I am trying to wrap my head around the concept of depreciation. Let's say I upgrade my HVAC to replace old if install new condensation units worth $10000 just for the sake of numbers, how does it impact my depre...

Hi guys,I got a leak in the kitchen. What does insurance usually pay for?I dont want to file a claim if thats something that insurances normally dont pay for...The leak is in the kitchen, its  pipe that connects my re...

The SECURE Act now allows for 529 Plan funds to be used to pay up to $10K of student loans. 
Open a 529Contribute $10K and take a state tax deduction. Most states. Distribute funds to pay off $10K of student loans. D...

Hello BP friends!  Can someone clarify for me the pros and cons of purchasing an investment property (which I will live in) with an llc vs a personal home mortgage?  Specifically, tax incentives/ deductions?  My resea...

Was trying to gather what people pay in insurance on single family rentals. I’m in western PA to give and idea of course this will vary by location.Just got a quote for a single family I’m looking to buy, getting a co...

I had a property that burned down in a wildfire last week. I will have an insurance payout, which I will use to rebuild. For tax purposes, here is my general understanding:The land value on my books will be unchanged....

My renters just moved out of the our condo and we are doing or first round of lease ending and renting out to a new couple. What do you charge against the security deposit... the walls are a mess with holes everywhere...

Hello,My name is Keith, I'm new to the site and just beginning to do some property analysis. My question is on how to account and plan for any taxes I will have on rental income I receive. ( keep in mind my calculatio...

Getting started with renting out a room in my home.  Anyone know of any savvy real estate accountants in Massachusetts they would recommend?  I heard if you write off deduction from the rental room on a schedule E the...

Exploring pros and cons and also evaluating what option provides more advantages to w2 earner in terms of better tax deductions - A. Syndications: will get K1 form, what does it include ? prop tax,mortgage interest an...