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Eric Betten
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Is your BP pro membership a Tax Deduction?

Eric Betten
Posted Jan 24 2021, 16:41

I had purchased my BP pro membership before I had established my LLC for my real estate ventures. Is the cost of the BP pro membership now a tax write off for next year? I also learned from my partner and lawyer that since the LLC is filed under my home address now a portion of my mortgage payments and utility payments are a tax deduction. My other question is how much can I get away with while staying compliant with the law? I have a detached garage with a loft that it unused as of now other than for storage (not even vehicles) and a basement that I had been converting into an office/gym space anyway. What do I need to do to have the IRS consider this "Work space for business"?

As always, thanks for your time and expertise. Keep hustling the good hustle.