“If we move out of our home and rent it out, should we change the title to an LLC, or leave it in our names to deduct the expenses?” An LLC for rental property is the first thing people suggest when you move out and rent your old home. But there are two different questions […]
“If my LLC reimburses me for the office portion of real estate taxes paid on my home, can I also deduct the total amount of real estate taxes on Schedule A of my Form 1040?” A home office reimbursement from your own company feels like a win — until tax time, when the question becomes […]
“If I buy a short-term rental, I can just write off the losses against my W-2, right?” The short-term rental loophole is all over social media — buy a short-term rental, write the losses off against your W-2. It can work. But social media shows you the best case, not the two hurdles almost everyone […]
“My spouse doesn’t really work — can’t we just call her a real estate professional and wipe out my W-2 with the rental losses?” Calling a stay-at-home spouse a real estate professional to erase a W-2 with rental losses is one of the most repeated moves in real estate tax circles — and one of […]
“How do I know if I should get a cost seg study done? I have two long-term properties valued at $130K and $211K.” Cost segregation is one of the most talked-about real-estate strategies of the decade — but only for the right properties. Before you pay for a study, you have to do the math. […]
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