Nick Murray
Using an LLC to purchase home
Hey all!I am full of questions, and I truly do appreciate everyones time and effort in their responses thus far; BP really is an awesome community! Ok so onto the question:Let's say I am purchasing a single family hom...
Michael Chavarria
Expenses from 2016 on 2017 return
Hi, I realize that I need to speak to a CPA but I am trying to figure out as much as possible before I do so. Any help is appreciated. In 2016 I started a single member LLC. I purchased a property in June but it was...
Zachary Critchett
Rental income tax rate?
How much of my rental income should I set aside for taxes? I'm almost finished reading The Book On Rental Property Investing and it still hasn't mentioned any guidelines about how much tax to set aside? Maybe I missed...
Account Closed
Taxes on unique house hack rehab
I am doing a house hack on a SFH where I have claimed legal domicile for many years. There are already renters in place -- family. My mortgage is for a primary residence and not commercial or rental. The house needs s...
Frank Mirando
Evicting a month-to-month tenant in New York without a lease
Hey I'm hoping to get some feedback from those with more experience landlording than me.I purchased a 2 family house hack situation 5 years ago. I live in one unit and we inherited the tenant in unit 2. Upon purchas...
Silvia B.
Rental "start-up" deduction info needed
I am still alittle confused about the $5000.00 allowed "start up deductions". Maybe someone here has the answers:
This will be the first home that I will rent out. I just bought it as an REO and am waiting for escrow...
James Barry
Refinancing deal analysis
Hello everyone, I was hoping to get some specific answer involving refinancing for multi family units. I’m aware of the basic concept that a properties NOI determines the value of a commercial property as apposed to c...
Jeremy Zindel
Business overhead expenses on a Schedule E
Just wondering what the correct way is to handle business overhead expenses for my rental properties when it's time to account for those expenses at tax time? (i.e. cost for business PO box, Quickbooks, miscellaneous ...
Mary Jay
Taxes during retirement
How to figure out what tax bracket you’ll be in during retirement? For example, let’s say a single person makes a 100K per year on W-2 right now working for a corporate world. It’s taxed at about 25-30 percent, right...
Nicholas Aiola
Ask me (a CPA) anything about taxes relating to real estate
Hey, guys!I've been on BP for about 7 months now and I have quickly learned two things:There is no better place than BP to talk real estateThe wealth of information on BP is immeasurableI've read and learned quite a l...