So admittedly I have some flexibility with how I file taxes since my income comes from my sole proprietorship (music teaching). I'm planning on stating around $25,000 in income this year (a lot for me) in order to hel...
I’m looking for some advice. How much does one property reduce your state/federal income taxes? How much does 2 properties reduce it? I know this is a largely variable question, just looking for advice/ guidance, if i...
I read many articles saying that you can deduct your property management fee or your repair costs or your insurance cost from your tax on your rental property, are those fully deductible??? Like if the property manage...
How can I file my taxes without taking a huge income loss from being self employed. I am applying for a home loan but now my income is reduced significantly from the way I filed. Is there a way to get around that to ...
If one sets up a LLC and takes a salary/dividend split via their LLC does all of the money get counted to determine eligibility to continue to receive social security payments? Or....does just the salary portion get ...
Hi everyone,
Thank you in advance for the replies. I have been learning and listening about realestate investing for some time now and have questions about how real-estate can be used to reduce taxable income. Lets ...
Below is the email that we just sent out to our tenants. Keep in mind, most people don't pay rent just because they fear eviction...Most people pay their rent because they are honest and they honor their contracts. Yo...
So i am hearing from a CPA that because my wife and I make over 150k per year, that I cant really take advantage of tax losses from my rental property. I can carry them forward, but it doesn't reduce my actual gross i...
I borrowed cash from my canadian corp to buy rentals all cash in the florida market. I will wright up a loan to myself from the corp to an interest rate that will completely offset any tax owing at years end from the ...