Hi experts! We borrowed some money from family and are paying them interest. Is the interest we pay regularly tax deductible? How do you structure the loan so everything is legit and meets IRS standards? Since it's ch...

I recently joined a local REI club.  The initial cost to join was $500 but to take advantage of additional services and access to individuals to mentor new members, there was a substantial cost. If I deduct those cost...

I'm a new investor and buying a handful of buildings in a LLC.  I have read that you shouldn't make any claims on insurance unless its catastrophic to keep costs down.  If that is true, it seems better to go with a 5k...

As part of my regular routine of checking the "tax news", I came across a recently released tax court case, TC Summary Opinion 2018-27.  Bottom line, a licensed real estate agent deducted mileage for visiting houses f...

I own a small business and use an ACH processing company for the majority of my customs payments. It works very well as every month I know for sure what I'll have coming in on the 1st. No waiting for paper checks, acc...

Hi All,How much should I charge a tenant who damaged a property in ways that I can probably never repair?  A tenant recently moved out of one of my properties after about 3 years.  They gave 30 days notice, and made a...

I was introduced to the world of passive real estate investing through syndications and there are many benefits that to continue to be shared, including bonus depreciation.  I’m new to this world so I don’t fully unde...

Hi Everyone - this happens to be my first post on BP, excited to be part of the forums.I've been investing for about a year and have purchased 4 units in metro Denver at an average cost of around 150k/unit. I had a th...

Hello BP people!
I have a newbie question:
My tenant moved out and I've found the brand new fridge I bought unplugged.
When I plugged it I discovered it's not working.
Can I just buy a new one and deduct it from t...

Hey guys - I work full time and I'm looking at buying my first rental, holding it within an LLC.I know investment property mortgage interest can be a deduction against my personal income (even if the property isn't ca...