Hi everyone, I extended my 2021 taxes, and it is about due as of now. My question is: Can I deduct rental property inspection fee (before purchase) from my rental income for 2021? I had also paid $800 inspection fee f...

I have a septic system that has failed and needs to be replaced.Could I deduct this as a repair instead of a improvement, since I have no choice but to replace it?

I am currently doing a cash out Refi on my home in order to free up some money I put in on a renovation/inlaw build out this past year.  My understanding is that I can only take 100k worth of the mortgage deduction fo...

These taxes are killing me! I have 5 active rental houses & 1 land contract. Everything I make goes right back in to them or more property But yet my tax bill is HUGE! Is there any way I can show on paper I reinve...

We rent out a portion of our primary residence on a nightly basis. Does that enable us to claim our own utilities, insurance, HOA dues and other expenses on our taxes? Or a portion of them?

Just got My LLC approved. Just getting started investing. My wife and I have been going out on the weekend farming neighborhoods to decide which one to begin investing in. My question, is the mileage  tax deductible u...

Can I deduct water bills and/or electric bills (common hall/basement lights) as a business expense for a non owner occupied duplex?Water is the only utility that the city does not allow to be split/submetered or put i...

How to calculate rehab cost and report it?Say, you bought a property for $100K and rehab costs $50K, no income.    can you report loss of -$50K ?  plus deductions from tax, utilities?

Hello, I currently own a town house in the Portland area. i rent out a portion of my primary residence to 2 other roommates who pay me rent.I bought the house in 2018 and did a few improvements/paid HOA/utilities for ...

Doing some rehab work was wondering if tools are a tax write off?