Michael Plaks
Tax reform Q&A Thread 1 - Pass-through and 20% deduction
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...
Shadi Ayyoubi
DC Mixed Use / Airbnb
BP Community hope all is well! I'm evaluating the acquisition of a currently 3-story mixed-use building in DC. Two apartments up top and retail on the ground level. I'd likely occupy one apartment and convert ground ...
Jordana Frost
Pied-à-terre for W2 job (tax deductible?) and STR
Hello!
A friend is exploring a potential professional opportunity that would require her to be in NYC about 2 days a week. To lessen the commute burden, she is thinking about investing in a small property about 1hr b...
Collin S.
Airbnb Tax Write Offs
Quick question about Airbnb tax write offs... can cleaning fees be deducted from rental income? How about the cost of purchasing a new washer and dryer to clean Airbnb linens? Thoughts?
Dave K.
Tax Credit for improvement for Disabled Access Credit 8826
Hello fellow BP forum,I recently had to make improvements to my commercial rental property due to ADA requirements on the property. We had handicap signs and access lines painted to "removed barriers for access". S...
Bette Hochberger
Navigating Real Estate Investments in Light of Recent Tax Reforms
Recent tax reforms have significant implications for real estate investors. These reforms can impact property valuation, financing decisions, and investment strategies.Key Points:Interest Deductibility Limitation: Lim...
Seung Won Lee
Buying a 2nd home and renting out
Hi BiggerPockets community,First of all, we are newbies currently living in LA. My wife and I bought our first property (primary) back in June 2020 in LA.We are now thinking of buying another property as a 2nd home in...
Dawn Anastasi
Simplified option for home office deductions
IRS Announces Simplified Option for Claiming Home Office Deduction Starting This Year; Eligible Home-Based Businesses May Deduct up to $1,500; Saves Taxpayers 1.6 Million Hours A Year
http://www.irs.gov/uac/Newsroom/...
Daniel Rines
Filing repairs for rental property
I'm hoping someone can give me some insight to this rather individualized question. I own a 2 story duplex and rent the 1st floor and live on the second floor. In 2017 I built a laundry room with hook-ups for both m...
Priyanka K.
Year End Tax Question
Hello fellow realtors!I got my license last month and may not have any earning as a realtor this year. I am looking for ideas on how to manage realtor related expenses that i incurred this year!Can I deduct realtor re...