Lilly Olson
HELP Tax Deduction HELP
We own rental properties in the state of Arkansas. We travel to Texas for real estate education. Our mileage was 300 miles each way. We paid $70 for each ticket. $150 ticket total, plus one day of travel expenses. The...
Lilly Olson
HELP Tax Deduction HELP
We own rental properties in the state of Arkansas. We travel to Texas for real estate education. Our mileage was 300 miles each way. We paid $70 for each ticket. $150 ticket total, plus one day of travel expenses. The...
Robert Fornwalt
deduction and paying taxes
just did my 2018 taxes and I have to pay uncle sam this year about $3300. when I ask if I should buy rental properties I was told because my wife and I make to much that most of the rental income would be a wash.so le...
John Cantey
Tax Deductions from Closings
I purchased some properties in 2020 and was wondering what is deductible from closing? Inspections? Appraisals? Fees from lender? Legal fees? Escrow payment? loan origination? anything else?
Thanks
JOHN
Dan Kim
Real Estate Tax Deductions
I just started reading the savvy real estate investor tax strategy book and my first immediate question is when can I start making these deductions? Do I need to have at least one investment real estate property? Can ...
David Hughes
STR tax deduction question
I’m building a STR that should be complete in March. Can I buy the furniture this year and expense it even though the property is not finished?
Debra Mowery
Down payment tax deduction?
I am putting $50,000 down on a property I am using for a business expansion. How do I deduct this payment as closing in after the first of the year?
Pablo Pinasco
New AC Tax Deductible
Hello,
I am pretty new to BP and I am doing my best to study as much as I can to get ready to invest in the near future. I currently own and live in a condo in Los Angeles, Sherman Oaks specifically, and it looks li...
Cathy Chang
tax deduction on equipment
Hi BPers,I bought a used printer and laptop for my rental business. Can I deduct the expenses when do tax? Since I bought them through garage sale, I dont have receipts. Is this doable? What do I need as for proof?Man...
Grant Doyle
Commercial Vehicle Tax Deduction
I recently bought a fourplex that needs some work done to it. This work involves hauling large materials such as lumber, drywall, and much more to the property. Unfortunately I cannot fit these materials into my small...