Hey all. This year i got a dreaded letter from the irs asking to provide more information on my rental property. In own a 2 family with 3 rooms each. I live in one of the two apartments in 1 of the 3 units. The other ...

question for those who claim the home office deduction: So I have 3 properties total under an LLC as well as my regular full time job.  I have a room in my basement where I've always kept all books, a desk and have us...

Many real estate investors don't realize they may qualify for a valuable home office deduction when managing their rental properties. Let's bust a common myth and explore how this often-overlooked tax benefit works! 💡...

We just set up our LLC in Illinois to flip houses.  I'm preparing to file for our EIN with the IRS and need to decide if we want to be taxed as an S-corp or partnership.  I'm all for S-corp except for the requirement ...

Hi all, I'm thinking about trying to take the home office deduction next year for tax returns, but am not sure if I would qualify. Can anyone tell me, is there a minimum amount of hours you need to use a room for busi...

I learned of this deduction at a real estate training. It may be common knowledge to you all, but I mentioned it to my accountant and she had never heard of it. Let me know what you think!Rather than using the "home-o...

Hello BP Community!I wanted to get some opinions on creating a property management company for our rental properties. I have heard of people owning properties and then creating a PM company that "manages" their proper...

For my rental properties I maintain a home office. Should this deduction be taken on Schedule E along with my other rental expenses? I ask because Turbo Tax lists the home office deduction on Schedule C.

My wife and I currently own a owner occupied 3 family. We live in one of the smaller units, 2 bedroom 1 bath. We have a spare room that i use as an office sort of. Its where i write off my expenses. How do I know if ...

I've had this question in my head for a while and figured I'd finally ask it.  Let's say you created a youtube channel for the purpose of creating a following & eventually making a profit. A DIY maker type channel...