Christina VandenBerg
Tax Deduction for Short-Term Rentals
Hello! I have a clarifying question on the STR tax deduction. Assuming you meet the terms of the tax benefit qualification (e.g., 100 hours and more than anyone else) and want to use excess losses from the short-term ...
Mike S.
Roth 401k vs deductible 401k + conversion
I was usually using option 1, but I was recently introduced to option 2 and would like to get feedback on its caveats:Option 1:- Contribute to the Roth portion of a 401k (lets assume $50k)- Invest this $50k in a syndi...
Mary Jay
Only invoices work for tax deductions?
Is it true that if I wanted to write off an expense I have to have an invoice?I’ve always used the receipts that the handymen give me or my bank statements.Someone told me that the irs won’t accept that as a documenta...
Ron Singh
tax deductible limit on rental properties
are there any max limit on mortgage interest, property tax etc, which would stop you from getting tax deductions on rental properties you own ?in other words say you own in your name (not llc):primary residence : mo...
Mina G.
Maximum Property Tax Deduction of 10k?
I have 2 properties, each property has about $10,000 in real estate tax per year (Lovely NJ). Is there any loopholes to deduct the full amount of property tax that I pay? Both properties are under my name. (With conve...
Gary F.
Deducting Vehicle and Expenses, Section 179
I'm a new investor looking to make my first venture into investing. I'm starting to rent rooms in my private home to start. I was researching deductions to offset my rental income. Section 179 is intriguing for vehi...
Heather Hall
Short-term rentals & Tax Deductions
My husband and I plan on renting out our primary home on Airbnb this summer when we are traveling (4 months). This will be our first experience in the vacation rental market (we have previously done LTRs only). We p...
Andrew S.
$5k or $2.5k deductible on insurance
Curious how many folks use a $2500 or a $5000 deductible on their home owners policy? The price difference would pay for the $2500 difference in deductible in 15 years. I assume it's probably a wash on making a claim...
Joel Perez
Tax deductions and applying for loans
Had a question , if on paper you’re just breaking even from rental property income after depreciation, loan interest ,taxes etc...
Will this negatively affect one when applying for more rental property loans ?
Mike Hoffman
When do purchases become tax deduction
I'm closing on my first duplex on 28 Feb 2023 and plan to house hack. I was curious as to how far out you can buy things for rentals and still use it as a tax deduction. Thank you.