Felix Stone
LLC rental account or personal rental acct for general expenses
Hi All - Unfortunately I have lost trust in my CPA after reviewing my latest tax returns(they missed major expenses that I had to call out) so resorting to this community for learning and knowledge while I also look f...
JR C.
Does net rental income factor in depreciation?
I was looking over the health exchange website and one of the income questions was Net Rental Income amount. Does net rental income factor in depreciation? Or is depreciation a different type of expense because you...
Matt F.
tax advantage question
can someone give me a quick summary of the tax benefit to owning a rental prop? i understand about using all the expenses to help offset the income generated by the property, then with depreciation, you may end up in...
Jake Baron
Tax incentives for small multi families
Hello!Two part question: Would somebody mind providing a brief overview of the tax savings of purchasing a 2-4 multi family in the first year of purchase as owner-occupied. For example: If my W2 income is 100k and the...
Nick E.
Tax Questions - First Rental Property Closing early 2017
Hello BP Community,I think I know the answers to the following questions, but I wanted to verify with the BP community:Background: I have spent the last few months researching, visiting, and placing offers on properti...
Andrew West
Insurance Shopping- Any "rules of thumb"?
Hello Friends-We are under contract on two duplexes in Michigan, and shopping for insurance (everyone's FAVORITE topic). We are fairly new to this so, as we learn about all of the different aspects of a policy (ACV vs...
Chuck Brooking
Home office tax deduction while using a UPS Store mailbox?
I need to use a street address for a dba filing and plan to use a UPS Store mailbox rather than my residence address. Can I still get a home office tax deduction with the business address different from my residence?T...
Account Closed
Understanding technicalities and practicalities of Cost Segregation
Cost Segregation in Real Estate:
Real estate investments offer a path to long-term wealth accumulation, but the tax implications can be complex. Fortunately, cost segregation is a valuable strategy that real estate ...
Ken T.
Depreciation with Turnkey Properties
I was looking for a post on this topic but couldn't find one. I was informed recently by a real estate CPA that in order to depreciate (as a tax write-off) with turnkey properties that you need to demonstrate material...
Nik Moushon
Tax strategies for rentals
I have my first rental under contract. Though I understand taxes in a general sense and what to do for my own house I'm in the dark when it comes to whats different for rental properties. What are got strategies to lo...