All Forum Posts by: Ricardo Garcia

Hi All,

Please, I need your help understanding the new IRS law starting January 2023, which will only allow you to claim losses on your business for three out of five tax years. If you don't show that your business is starting to make a profit, then the IRS can prohibit you from claiming your business losses on your taxes.

What would be the impact on us Real State Investors? What do you think?

Please, let's talk about it and share your understanding. I appreciate your help and all the information you can share.

Thank you,

Ricardo

Hi all,

You must listen to podcast #689, The #1 Real Estate Tax Loophole, with Matt Bontrager. I was impressed with the information shared by Matt. It was easy to understand and to the point. I Googled Truebooks reviews, but there is not much information about Truebooks CPAs. I also searched the forums and found one post with seven replies mentioning Truebooks.

Is anyone here at BiggerPockets using Truebooks services like Tax Advisor? 

Thank you, 

Ricardo

Yes, started to look for a CPA back in October 2021 without any luck. It is way easy to acquire one property than to find a good CPA that will take in new customers. 

At least, Should I do an online property segregation study? Many people are saying that it works for less than a $1m property. They are using KBKG and DIY. 

Hi, 

Please, I'm looking for a CPA to help me with this year's taxes and next year's tax strategy. I live in Washington State, and my first rental SFH is in Harris County, Texas.

Thank you,

Ricardo

Hi Will, 

Thank you so much. 

I am still trying to find a CPA in Texas that can take a new customer. I have reached a few CPAs, but they have a waiting list or not taking new customers. I will keep looking for a CPA.

Much appreciated

Best regards

Ricardo

Hi All, 

I'm a rookie investor from Washington State that purchased my first rental SFH in Texas in November 2021. I created the LLC in Texas on December 31, 2020.

I traveled to Texas 3 times, 2 times for house hunting, and saw possible neighborhoods. The last trip was to sign the property management company and get the house ready before listing the property. The lease agreement was signed in December, and the people moved on January 10. Yeah!

Please Let me know,  Can I deduct in my taxes the T&E and house hunting as part of starting a new RE investment business before I purchased the property?

Thank you in advance for your help

Ricardo

@Seidy Lasker, @John Duston, @Natalie Kolodij

Thank you so much for your replies. Much appreciated 

Hi All,

Please I need help.  

Can anyone recommend a good CPA with "out of state" real estate experiance? I just closed on my first properties last Nov.

I live in Washignton State and the property (SFH) is in Texas.

Thank you,

Ricardo

Hi,

I'm trying to make an offer for a single-family house in Katy, Texas. Please, Do you know the replacement cost for 1450 sqft Roof - Composition (Ballpark)?  If you know a good company that can do the job, that will be fantastic!

Thank you so much!

 Hi @Lucia Rushton,

I'm also looking for a CPA in Houston or St Antonio. Any recommendation is very welcome. 

Best regards, 

Ricardo