Becky Lu
Is the family loan tax deductible?
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...
Suhaib Rehman
Tax deduction on investment property texas
Hello everyone I am considering purchasing an investment property in collins county texas. I am a little bit concerned about the interest rate however if the tax deduction offsets this, that will help me do the purcha...
Doug Dillard
Are local REI club dues deductible
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...
Gilbreth Seno
Depreciation deductions on other personal income
Can I use depreciation deductions from a rental property to offset income from my day-to-day job?
Matthew Rogers
ACH/Auto Deducting Rents from Tenants
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...
Dana Yobst
Deductibles for Buy and Hold properties?
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...
Account Closed
Tax credit/deduction on investment property
Hello all,Just bought an investment property. Before you know it, tax season will be fast approaching. I just want to know how do you savvy investors keep track of your expenses? Any tips? Thanks...
Elaine Chua
Lawful Deduction on Tenant Security Deposit
I have inquiring when it is lawful to deduct the security deposit from a tenant?Our tenant had decided to terminate her lease with 5 months left to fulfil. She gave us 30 days notice due to last minute work relocation...
Dennis O'Loughlin
What's tax deductible on this trip
My wife and I are partners in our Real Estate LLC. We live in the Pacific NW and want to go to a couple of seminars in LA next month. If our kids go with us and we drive to LA on a Sunday, all of our direct car rela...
Uwe K.
How to state security deposit deductions?
Theoretical question and an actual situation:
Assume a text book case:
Tenant is collectible, moves out, leaves damaged property behind.
You have $500 deposit. All rent is paid, but you charged $100 in late fees th...