Jake Tansanco
Buying Points, Insurance, and Tax Deductibles
Hi, Everyone!I'm a new real estate investor. I'm in the process of buying my first rental property and I have a few questions about buying points and etc.Property value is $200k and I'm putting 20% down. Location is i...
Andrew S.
Can you deduct these odd expenses?
I have a credit card that I use only for my rental business. I got a new card after my card was hacked and my auto pay was cancelled. I got a ~$40 late fee applied, can I deduct this? I keep a $50k HELOC that I keep ...
Manas M.
How to track amortized tax deductions?
This is going to be my first year filing taxes with rental property. I know that some of the costs (like loan costs, points, closing costs) are amortized over the life of the property. I am interested to know what tip...
Alice Chau
Depreciation Expense Deduction for Rental Property
Hi all,Can someone please let me know if there is an income limit on taking the depreciation expense deduction for rental property? I was told by my accountant that deduction cannot be taken if the income exceeds $15...
George Habator
What land costs can be deducted?
Hi, all. I bought a teardown house as an investment and tore down the house. The property is currently a vacant lot. What gets expensed, what gets depreciated and what gets saved as the basis in sale? There are closin...
Zach Mosholder
Understanding Insurance Deductibles On Your Investments
Deductibles play a huge role in insurance. If you know how to use them properly, you can use them to your advantage to lower premium while still avoiding big out of pocket expenses in the event of a claim. On the reve...
Julio Gonzalez
New IRS Guidelines for 179D Deductions!
The IRS released new guidelines and best practices for their internal review/audit process of 179D tax deduction claims. If you have claimed this deduction or plan to in the future, ensure that your CPA or tax special...
Darryl Griffin-Simmons
Are real estate masterminds tax deductible?
Are real estate masterminds tax deductible if you have an LLC an? I would image real estate conferences and the associated costs to attend would be tax deductible but I'm curious what bucket (if any) masterminds fit i...
Robert Curls
Capex or Opex? Maximizing my deductions
Hello BP!I know I should seek the advice of a competent CPA or Tax attorney, but I wanted to get some opinions of others prior. I understand you aren't giving tax or legal advice, so the disclaimer is out there.I hav...
Ana M.
Flipping houses... expenses. capitalized or deductible?
I am a real estate professional. (not passive activity).. I file jointly with my husband who is a doctor and has high income (500k/yr). I have LLC's for mostly flipping properties. I have only 3-4 rentals in my 3 L...