Cheryl C.
Is there an IRS Form for aggregrating RE Professional activities?
Is there a specific IRS Form or place on a form where you elect to "aggregate" RE Professional activities? I have about 20 properties and want them aggregated as one activity for the purpose of meeting RE Professiona...
Carl Kallgren IV
Seeking CPA / Tax Professional in the Greensboro NC / Triad area
Hey BP fam! Looking for some tax professional / CPA recommendations.
Looking for a tax pro / accountant in Greensboro, NC who has experience working with real estate investors, but more specifically one with experti...
Deborah Frantz
Tax question on a rental property that was bought through a housing program.
The program required half of the profits from the sale be paid back into the program. A check was wired to the county at closing by the settlement company. Do I add this payment to the closing costs? The 1099-S I was ...
Frankie Lotrec
Insurance for a Quadplex in VA
Hello,I own a quadplex in VA. I have insurance right now but I am paying upwards of $600 per door! I need to lower that to meet my budget. Any recommendations?thanks
Mike Hanneman
Tax deferment on 2nd home
I was wondering if there are any tax deferments for selling of a 2nd home and using proceeds to lend to someone for an investment property. Do the standard tax deductions apply when selling a 2nd home? Can you roll th...
Matt Romano
Homeowners Insurance Quotes seem typical?!
Hows it going BP? I'm currently under contract with my first owner occupied multifamily (house hack), and I'm really looking forward to starting off this REI career. Scheduled to close soon, but I'm still sh...
Dana Yobst
Deductibles for Buy and Hold properties?
I'm a new investor and buying a handful of buildings in a LLC. I have read that you shouldn't make any claims on insurance unless its catastrophic to keep costs down. If that is true, it seems better to go with a 5k...
Dean Valadez
Question on write-offs and do's and don'ts
Can I:- Purchase clothes (pants, shirts, socks, coats, jackets) that I would wear for doing renovations/rehabs and write them off? - Shoes, boots?- atypical tools, such as a knife or flashlights?- iPads or other such ...
Brian Hunsaker
Wondering how to minimize taxes owed to IRS from rental properties
We have 3 rentals, and Turbotax says we made about $27k off the 3 combined last year, so I ended up having to pay the IRS $8k. Currently the tenants pay us directly to our bank accounts. Would we owe less if we set up...
Samantha Klein
Stocking up on items for future need on Black Friday
I'm planning on stocking up on appliances and vinyl plank flooring this weekend for property I own and possibly future ones, just storing the stuff until I need it. How does that all work when deducting on taxes? Do y...