Flippers and Developers
2021 Vehicle Purchase Deductions for Landlords
Do you need a new business vehicle? Perhaps one that you can lug rehab materials around in or drive to your rentals? And do you need tax deductions this year? Real estate investors who are running a trade or business (most landlords are) can claim a deduction for purchasing a new or used vehicle. And…
Read Full ArticleWill Your Mileage Log Withstand IRS Scrutiny?
Business mileage is a tax deduction available to most real estate investors. As you wear your car down traveling between rentals, builds, flips, and client sites you can and should keep detailed records of the trips because the deduction can really add up. In 2021, every business mile you travel qualifies for a 56 cent…
Read Full ArticleAre You a Real Estate Dealer or Investor?
Among the many tax benefits available to real estate investors is the ability to pay a reduced tax rate on the gain from the sale of properties. When a real estate investor sells a property, the investor pays capital gain rates. The maximum long-term capital gain rate is 20% for properties held more than 12…
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