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TopicsCrypto Deductions Family Irs Llc & S Corp Payroll Personal Taxes Real Estate Retirement Side Hustle Small Business Tax Strategy

Your tax preparer should ask about your mileage

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Your tax preparer should ask about your mileage

A rental property owner missed deducting 300 miles of driving because his tax preparer never asked about it.

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Short-term rental loopholes are just normal deductions

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Short-term rental loopholes are just normal deductions

The IRS schedule E lists all rental deductions; paid courses just repackage basic tax code.

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The one real estate investing rule that never changes

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The one real estate investing rule that never changes

Buy low and sell high is the only philosophy that matters in real estate investing.

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Why cost segregation might not be right for you

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Why cost segregation might not be right for you

Cost segregation gives you a huge deduction in year one, but nothing in year two unless you keep buying properties.

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Deductions your tax preparer probably missed

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Deductions your tax preparer probably missed

Most tax preparers don't review your return for obvious deductions like mileage, internet, phone, and cleaning costs.

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Rental property deductions you're probably missing

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Rental property deductions you're probably missing

Mileage to your rental property, meals while working on it, and repairs vs capital improvements are commonly overlooked deductions.

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How to tell if a rental expense is a repair or improvement

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How to tell if a rental expense is a repair or improvement

Expense repairs you'll redo in 5-6 years, but depreciate long-lasting items like roofs to avoid IRS penalties.

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Realtors often miss these basic deductions

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Realtors often miss these basic deductions

A realtor's return showed only 100 miles and $10 in meals monthly; fixing three years of missed deductions recovered $22,000.

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How to tell if a rental expense is a repair or improvement

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How to tell if a rental expense is a repair or improvement

If it wears out in five or six years it's a repair; if it lasts the life of the property, like a roof, you must depreciate it.

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My honest take on real estate investing losses

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My honest take on real estate investing losses

Buy low and sell high is the only real philosophy; losses are deductible if you actively participate.

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Real estate investing basics and what actually works

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Real estate investing basics and what actually works

Real estate success comes down to buying low and selling high, whether you hold for assets or build a portfolio.

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Rental remodel costs aren't all deductible right away

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Rental remodel costs aren't all deductible right away

Capital improvements like roofs and countertops depreciate over time, while repairs like carpet and paint can be written off immediately.

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Why your rental loss shows zero on schedule E

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Why your rental loss shows zero on schedule E

If you make too much money, you can't deduct rental property losses unless you meet the real estate professional criteria.

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How do you make money off real estate?

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How do you make money off real estate?

A quick intro to understanding how people profit from real estate investing.

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How to report your home sale on your tax return

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How to report your home sale on your tax return

Report your 1099-S from the title company and check the boxes showing it was your primary residence to avoid IRS letters.

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Rental remodels: what you can write off now vs later

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Rental remodels: what you can write off now vs later

Capital improvements like roofs and countertops get depreciated over time, while repairs like paint and carpet can be written off immediately.

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Why real estate investing was hard for me personally

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Why real estate investing was hard for me personally

Real estate losses can still be deductible if you actively participate, but the real goal is buying low and selling high.

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Phone and internet can be rental property deductions

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Phone and internet can be rental property deductions

If you use your phone or internet to manage rental properties, those costs are deductible.

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When travel deductions to rental property go too far

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When travel deductions to rental property go too far

Travel to rental properties is deductible, but chartering a private jet instead of flying coach will get you flagged by the IRS.

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Why real estate can be a great tax investment

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Why real estate can be a great tax investment

Real estate offers tax advantages when done correctly, and professional help is available.

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Cost segregation might not be the tax win you think

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Cost segregation might not be the tax win you think

Taking all your depreciation in year one means you get nothing in year two, so plan accordingly.

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Foreign rental properties can create tax complications

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Foreign rental properties can create tax complications

US rental income from properties in countries where you can't legally own real estate may limit your ability to deduct expenses.

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When cost segregation makes sense and when it doesn't

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When cost segregation makes sense and when it doesn't

Cost segregation works best if you buy big properties every few years; otherwise, regular depreciation is more predictable.

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Real estate agents, check these two lines on your return

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Real estate agents, check these two lines on your return

Review your Schedule C for mileage and meals deductions since agents drive and buy coffee constantly.

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