Sasang Doc
Renting a business property to my LLC
Hello Fellow BPers,
My LLC owns a business property where I’ve run another LLC business for the last 17 years. I’d like to start renting to myself (my LLC commercial prop renting to my LLC business running out of it ...
William York
The Duplex Advantage: Real Estate in Washington, D.C.
The Duplex Advantage: Real Estate in Washington, D.C.
Investing in real estate can be a smart and rewarding financial decision, especially in a city like Washington, D.C. Among the various real estate asset cla...
Account Closed
Does reducing my taxable income reduce my buying power?
If I use all my tax write offs and reduce my taxable income to 0 will that reduce my buying power in the future? In other words...will banks still count the income from my rental property when trying to qualify for a ...
Brian Scott
CPA help: Report Rental Loss on 1040
2021 is my first year as a landlord and to save money I'm doing taxes myself for the first couple of years. To avoid doing anything wrong I wanted to double check a few things. Can any CPA's answer the below? I've sco...
Account Closed
Question about my taxes with my rental property.
Good day BP.
I’ve got a question about how my accountant does my taxes in regards to my rental.
So I rent a SFH to my mother in law for $1,200/month (which is about what the mortgage payment is). Fair market value w...
Matt Wells
How much money should I insure my rental properties for with ACV and $10K deductible?
I want to get the community's thoughts. How much money should I insure my rental properties for with ACV (actual cash value) and $10K deductible? Should I insure for the capital I have in the homes or for how much t...
Scott Harper
Flood insurance
I am not happy with Fema. I have owned a house in Daytona for ten years. The house is two miles from any water. Last year Fema decided to redraw flood maps and now include my house in the flood area. I believe this wa...
Frank Wells
Tax implications of cash out refi to buy investment property
Thank you in advance for taking the time to read and/or answer my question. I appreciate your time. I'm, not sure how to pose this question either but here goes...I recently used a cash-out refi to purchase a SFR re...
Mike Chubb
Abandon home-taxes owed are more than the property is worth
hello everyone this is a property that I have had on my mind for quite along time can anyone (which I don't think anyone can) tell me if there is any sort of creative idea that works with this kind of problem? What h...
Michael Coe
Is Mileage expense/deduction claimed on 1065 or 1040?
Hello, I procrastinated and now I beg the community for help. My wife and I formed a partnership LLC this year and bought our first property. I have filed the 1065 and did not include mileage expenses in the 1065 sin...