Michael Paulson
Section 179 Deduction Inquiry 2016
Hello,I don't need a cargo van for my business at this point in time but after having reviewed the section 179 guidelines, it seems like it might be beneficial considering the tax bracket and financial position my bus...
Brandon Leong
Insurance questions - deductible? liability? umbrella?
Hello, Everyone!I am currently in the process of setting up insurance for a property I bought in Kansas City. I was wondering, the typical insurance you need is: Landlord insurance (for fires, hail, explosions etc..) ...
Andrew B.
Long term capital gains deductions
Any advice on exactly what one can deduct as an expense on a property i have lived in for 16 months and would like to now sell. I have a CPA but I get a little confused by all his terminology etc! Here is the story:...
Osama Yassin
Tax Deductions- Real Estate Professional
Hi,
Im looking for a consultation; i started doing real estate investing this year, and as the tax season is approaching; im considering to work with a tax consultant to put together some tax plan/strategies which...
Patrick Shep
Lease Purchase and Tax deduction
I've been proposed with a "Lease purchase" deal. Owner would lease to me $300/month and then at 4 years there will be a balloon payment due. I would be responsible for all expenses (taxes, insurance, etc). Does anyone...
Tarik N.
Tax time: what is deductible?
Topical question: I have closed on a number of properties this past year, and I have refinanced one, so my question is very simple: Which closing costs are tax deductible?Thank you,
Lance Mundo
Proving 750 hours for deductions
How can I prove 750 hours of work, and more work than my W2 job in order to qualify for maximum deductions when filing my income taxes? I want to reduce my federal income tax to zero. Are we using a time log? What is ...
Ron Singh
section 179 deduction : split possible ?
Hello Hello ! Going for a business vehicle purchase and wondering: if the cost of vehicle is more than business ( property rental ) income in the tax year, can it be split in two consecutive years ?for example : Rent...
Michael Keane
BP Conference 2021 - Tax Deductions
Hello BP Community:What costs associated with attendance at the 2021 Bigger Pockets Conference are tax deductible? Airfare? Hotel? Ticket to the conference itself? Thank you!
Christian Reyes
What is considered tax deductible?
I am looking at a property to buy and hold where the taxes are quite high. Over $9000 a year in NY. As such, everytime I run my numbers, I get negatives in cash flow due to the inability to get around the tax expense....