Jeffrey Fung
1040 Tax Returns - What amounts do you use for Property Tax
When you guys are filing property tax amounts for rental properties, what figures do you use? For example, let's say I am filing for 2023: 2022 -2023: Installment 1: $5,200 Paid Nov 2022Installment 2: $5,200 Paid Apri...
Account Closed
Form 1098 for private lenders. Reporting MUSTS
Navigating tax responsibilities can be complex, and one common area of confusion is whether private lenders should send Forms 1099-INT to investors and if investors should receive Forms 1098. Let’s break down these pr...
Derrick Lloyd
Tax Deductions on a Rental Property
Hi all,I recently got my first deal under contract, it is a SFR in St. Louis that will be held as a rental producing positive cash flow. I was wondering what some of the tax deductions I will be able to take are. I ...
Matyas Sustik
Sweat equity taxation
I hoped some experinced members could point me to the right resources on the following situation.Assume you syndicate a deal and as part compensation for putting the deal deal together, for finding the right property ...
Sara Batool
Looking for advice on a plausible tax saving strategy
Some background that I hope provides cover for naive questions. My husband has a regular W2 job in the bay area. I used to work as a hospital/pharmacy admin, but took up work at my local elementary school to be close ...
Account Closed
Effects of depreciation and interest expense.
Anyone able to shed some light on how you personally figure in the savings of interest expense and depreciation on your investment? I have heard a ton about cash flow, but there is the other great tax benefits, altho...
E.S. Burrell
Buying your own health insurance
Hi all.... I own six properties and my goal is to purchase 2 more by the end of the year. I also work FT. I need the health insurance benefits my job offers. How do you all manage health insurance? Do you buy your ow...
Rebecca E.
When to talk to insurance agent about large unexpected expense?
We are new to REI. We have 7 doors and haven't had any big unforseen expenses until this week. This week we had a sewer problem with a lateral. It's not directly our problem but the city is going to make us replace...
Samuel J Claeson
Can you deduct landlord labor out of a tenants security deposit?
Hello BP members,I had a tenant move out on February 28, 2018 and she dumped a LARGE pile of kitty-litter (with cat feces) in a large woodchip garden bed that is attached to the home (we also took photos for evidence)...
Joey Cassera
Hiring 7yo son as household employee
I am looking to hire my 7yo son as a household employee. Mainly Supervising his 2 year old sister while were home so we can complete tasks such as cooking and laundry.
I do not own a business. Am I able to do this ou...