All Forum Posts by: Bill Hampton

Jessica, 

Are you open to working with your accountant remotely? I recommend finding an accountant who specializes in real estate taxation over one that is local. You may want to consider working with your accountant remotely to expand your options. 

I would also recommend looking for a tax strategist who is willing to work with you throughout the year, not just when preparing your tax return. You want an accountant that can help you strategize and who is responsive when you want to know the tax consequences of the decisions you are making throughout the year.

Good luck and let me know if you have any questions.

Nicholas, I sent you a private message. 

Steven, check out stessa dot com. It's a free income and expense tracking software. 

Rosa, most real estate tax deductions are taken at the federal level on your federal tax return. 

Most tax deductions and tax strategies are not state specific. 

Rosa,

Are you open to working with your accountant remotely? I recommend finding an accountant who specializes in real estate taxation over one that is local. You may want to consider working with your accountant remotely to expand your options. 

I would also recommend looking for a tax strategist who is willing to work with you throughout the year, not just when preparing your tax return. You want an accountant that can help you strategize and who is responsive when you want to know the tax consequences of the decisions you are making throughout the year.

Good luck and let me know if you have any questions.

Sarah,

Are you open to working with your accountant remotely? I recommend finding an accountant who specializes in real estate taxation over one that is local. You may want to consider working with your accountant remotely to expand your options. 

I would also recommend looking for a tax strategist who is willing to work with you throughout the year, not just when preparing your tax return. You want an accountant that can help you strategize and who is responsive when you want to know the tax consequences of the decisions you are making throughout the year.

Good luck and let me know if you have any questions.

Susana,

Are you open to working with your accountant remotely? I recommend finding an accountant who specializes in real estate taxation over one that is local. You may want to consider working with your accountant remotely to expand your options.

I would also recommend looking for a tax strategist who is willing to work with you throughout the year, not just when preparing your tax return. You want an accountant that can help you strategize and who is responsive when you want to know the tax consequences of the decisions you are making throughout the year.

Good luck and let me know if you have any questions.

Nicholas, 

What you are doing is called house hacking. House hacking will complicate your tax return.

Your property can be treated as both an investment property and a personal residence. Your property expenses will need to be divided between business deductions and personal deductions.

House-hacking will also complicate your taxes if you sell the property.

I recommend that you hire a tax accountant that specializes in real estate taxation to assist you with tax return prepartion. 

Good luck and let me know if you have any questions. 

Corey, 

Welcome to Bigger Pockets. Bigger Pockets is a great place for education and networking. 

I recommend that you check out the following resources:

1. Start by reading the Ultimate Real Estate Investing Guide: https://www.biggerpockets.com/guides/ultimate-real-estate-investing-guide/introduction

2. Check out other online guides available here: https://www.biggerpockets.com/guides

3. Take a look at BP's blog where new articles are published every day: https://www.biggerpockets.com/blog

4. If you want to network or ask specific questions about your local market, go to your local real estate forum and connect with investors from your area: https://www.biggerpockets.com/forums/86-local-real-estate-networking

5. You can meet local investors by registering to attend real estate events in your area: https://www.biggerpockets.com/forums/521-events-and-happenings

6. BP has various tools to help you analyze your deals (rentals, flips, wholesale, etc). : https://www.biggerpockets.com/investment-calculators

7. If you can't find what you're looking for, try the Bigger Pockets Fileplace. It contains hundreds of files such as ebooks, checklists and spreadsheets for real estate investors: https://www.biggerpockets.com/files 

8.Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alerts

Good luck investing. Let me know if I can be of assistance. 

Jessica, 

Are you open to working with your accountant remotely? I recommend finding an accountant who specializes in real estate taxation over one that is local. You may want to consider working with your accountant remotely to expand your options. 

I would also recommend looking for a tax strategist who is willing to work with you throughout the year, not just when preparing your tax return. You want an accountant that can help you strategize and who is responsive when you want to know the tax consequences of the decisions you are making throughout the year.

Good luck and let me know if you have any questions.