Matthew Kern
Deduct Taxes off Amazon purchases?
Hey simple question guys/girls,When making business purchases on Amazon, do I deduct the taxes taken out as well, or exclude that?Thanks.
Gipsy Field
Mortgage points buydown tax deduction
I bought a triplex December 20, 2018, I live in one unit and rent the other two. I bought down the mortgage interest rate by paying 7.5 points. my tax preparer said to wait until next year and take the deduction cred...
Russell Buxton
Tax question: Deduction or not?
I own 8 properties. I intended to buy one more. After the inspection, I decided not to go through with the purchase. As it was a multi unit building, the inspection was $2150. Can I deduct this loss against the gains...
Abdelkhalek Saleh
Insurance deductible charges to tenant
So I posted about a week ago regarding a damage caused by a tenant who flushed wipes into the sewer system which caused clogging and sewer back up resulted in a total damage of $6000Their renter insudid not cover that...
Joshua Dees
Are website subscriptions Tax Deductible?
Hello,My wife and I use skip tracing websites like BeenVerified and Spokeo to Skip Trace some of our leads, like returned mail. Is this a cost that I put under Business Cost at Tax Time, and Can I put those subscripti...
David Wagner
Tax deductions for rental property
Hello,I am looking for sold information on tax deductions for a rental property I currently have (in my profile). This is my first year reporting rent so I don't want to miss any deductions. I was advised the followin...
Anastasia Tran
Contracting expenses for Tax Deduction
Hi everyone, this is my 1st time do tax as landlord. Is it reasonable to ask contractor issue receipts for all of the repairs he has done for me this year? I have contracts we signed before starting to do the job, is ...
Anna Stolpe
Depreciation can not be deducted?
Hi BP community! I just talked to a financial planner/CPA and she said that depreciation of a rental property can not be written off as a deduction if your household income exceeds 150K. I could not find any proof of ...
John K.
Municipal Snow Fine Tax Deductible?
My account called me.... So we (landlord) received fines of $255 for our tenants failing to shovel the sidewalk. I promptly wrote a check for the fines, and then sent my tenant a bill for the fines. My tenants paid...
Jill Iwanski
Life insurance premium tax deductible
My question today is the life insurance premium we are contractually obligated to carry tax deductible. Long story short, as part of a land contract we have to carry life insurance equal to or greater then the amount ...