I know from previous reading/listening that you typically consider the start of a rental real estate business as the day you put your rental property on the market for rent. Is there any flexibility with this?
I just set up my LLC. I haven't received my debit card from the bank that goes with my LLC. I'll be doing a business trip this weekend. How do I charge as an expense to my LLC?
I was talking to my CPA and asked him how I can get to my tax goal of paying less than $5,000 in taxes. He said I would have to get rid of $30,000 of income.
I want to purchase a rental income property before the year is out. Would it be wise to purchase this rental property or not? Are there any tax benefits for doing this now?
I have been reviewing the course Maximizing Deductions of Your Dream Vehicle. We just purchased a truck and it will be 95% business use. In the course, you instruct to buy in your personal name and immediately assign to the business and assign "all our rights".
What are the tax implications of how I pay myself from my business or investing activities?
What can I deduct from my travel - came to Tempe to meet with CPA, then Tombstone for pleasure, then Nevada to look at real estate?
My wife has a home-based business and we started our real estate business/LLC. Is it better to take the home office deduction for my wife's business or the real estate business?
I started my real estate investing business this year but have not made any deals as of yet. If I have not had any income, can I still deduct business expenses?
I took a business trip this summer with my family. I was the only one who spent more four or more hours a day on business related activities. Would the easiest way to take the deduction be to use the per diem rate?