Gabe Bouldien
Rental Property Tax Deductions
Just bought my first property. It is needing a few things such as new dishwasher, minor roof repair, minor electrical work, and new toilets. I read that I can write off up to 5k in startup costs, but have also read th...
James Moore
Tax Deductions from Income
I know that expenses on a rental property can be deducted from my taxable income, but what if I quit my 9-5 one day and invest full time? Can I deduct from my cash flow income this way?
Jennifer Bott
Qualified Business Income Deduction
We own several multi-families and I'm clear on the safe harbour ruling to allow those interests to be treated as a business for purposes of the Qualified Business Income Deduction. What I'm not clear about is whether...
Nicholas Kitchen
Deducting a Car Lease
If you own rental property and also have a full time job, but you do not have an LLC (or any business for that matter), can you still deduct a car lease from your taxes? My girlfriend is a realtor, and when she didn't...
Hassan Oukacha
Rental property tax deduction
I'm filing my 2017 tax as married jointly. I have 2 rental properties that are both making losses for 2017 due to deduction and cost of acquisition + rehab; we acquired both of them last year. I am using TurboTax to f...
Zulu Black
Rental Property Deduction Limit
Hello All,This year, in July I started to enter the realm of real estate investing by renting out my SFH for $4k/month. I also have a full-time engineering job. I understand an individual may deduct up to $25,000 of r...
Kyler J Sloan
Basics of Tax Deductions
This will be the first year that I get any tax benefits for the work I have done on my first rental, and I wanted to understand the very basics/fundamentals to determine how much I might get back. In my profit/loss st...
William Brock
Are furnishings tax deductible?
I am in the process of buying a STR lakehouse and was wondering if the furnishing costs are tax deductible? I'm talking furniture, kitchenware, etc - everything I need to have in place to rent it out. I would expect y...
Jeff S.
Safe Harbor tax deduction
Wondering how many will be taking advantage of the new safe harbor rule? Accountant says need to be in a trade or business and pay SE tax. What is your take?
Jeff Wallace
C-Corp Tax Deductions
I will soon be flipping homes in a newly created C-Corp. My plan is to pay myself a salary and reduce the Corp's yearly net income to zero. I would like the corporation to pay as many of my personal expenses as poss...