All Forum Posts by: Chris Picciurro

You don't have to own a property to have rental activity (Schedule E). Rent expense is deductible.

It doesn't work that way. Your spouse needs to be REP status for both taxpayers to benefit.

That is going to be a hard find. We work with investors all over the US. There is also a BP listing for CPAs.

Great idea to outsource your bookkeeping function. I agree with @Simon W. that the bookkeeper and CPA are separate relationships. That said, if you can find a team that works well together that is a HUGE plus. Please message me if you want a recommendation. Good luck and congratulations on growing your portfolio.

We operated an inbound international tax division for over a decade. Managing the book of business was very difficult due to compliance costs and ITIN lead times. If there are any tax pros out there that we can refer work do please post here. 

Interesting situation and congratulations on being debt free other than the vehicle. There are pluses and minuses to each situation. What is the opportunity cost of your $10,000? 3% is a very low interest rate thus if you can generate a much higher return for the funds that should be considered. 

Sounds like a seller finance is the best option. 

I also concur with the tax pros on this thread. I don't see how photography will count towards to 750 hour rule. That said, there are a lot of other tax strategies out there that might be a benefit.

Good morning and it sounds like you have some great planning opportunities. I sent you a DM. Take care!

I have a recommendation for you that will also consider the tax situation. DM sent.