How To Report Rental Income ( Rental Property Taxes 2023 )
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- Опубліковано 9 лют 2023
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*Disclaimer: I am not a financial advisor nor am I an attorney. This information is for entertainment purposes only. It is highly recommended that you speak with a tax professional or tax attorney before performing any of the strategies mentioned in this video. Thank you.
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I just love how she dispenses the information . She has the right mind and attitude for it . Long life Ms. .Carla God bless you !
Thank you so much for this message, God bless you as well.
Thanks so much for breaking it down and making it so clear. SUBSCRIBED!
Just the information I needed to reinforce what I have been learning!! Great Job!
Great video, not one word was waited. The things that were repeated drove the information home. I could watch it again with no problem
Absolutely Excellent Presentation!! I am Now a subscriber!
Great video. Thank you.
Straight to the point! ❤
Great information! Thx!!
Karla thank you so much for all these gems. I purchased a building in Chicago.I opened my LLC and have done all my transactions through it but I was not allowed to put the property in the LLC by the finance company. I should've asked this question to my accountant but never did instead I just worried that was going to be a problem and this just gave me a huge relief. Thank you.
Thank you!
Great stuff 🙌🏼
thank you karla great work stay safe
" never stop progres for perfection " ❤ powerful
VERY GOOD
Wow! Thank you so much!!
This was so helpful! Thank You!
You welcome, thanks for watching.
Excellent explanation
Love it thank you
great substance & delivery of info! question related to mortgage taxes referred to at 6:50. We’d report mortgage interest in our personal tax return, but then also in the schedule E1 under Other interest for the LLC? for a situation where the deed in under your personal name, but your operating the rental prop out of the LLC bank account.
Thank you, Ms. Dennis.
Of course Malik ! : ) Thank you as well
Thank you
Excellent video
Very helpful, thanks
Sure thing! Happy to help.
Great explanations in this video. New subscriber. I will be watching more.😊
Awesome, thank you Travis, let me know if you have specific topics you'd like me to cover I have not recently !
I love all the information that you bless us with.❤ Should I put my rental in an LLC and how do I go about it? Peace and blessings. 🙏
It would be more useful to actually show a mock income tax form with all of the deductions.
I can work on another video like that, thanks for the feedback .
You are fantastic! Have been your long term subscriber!
My question is how about managing the property yourself instead of property management company. Can I pay myself same fee as I would be charged by them? How does that get written off for taxes?
You are awesome. Thank you ❤️
Thank you Kim ! : )
If you for example work for a company and you also have a rental property I think I understand the part where you said you would report your rental property on a schedule E, inside of your individual taxes. What if you don’t have any other job/source of income? It is still reported on your individual tax returns? You would use your ssn when doing your taxes or you would use your ein number? Or is there a section somewhere where you provide both numbers (ssn & ein)
Thank you auntie 🙏🏾
Excellent video and information
Thank you so much for the feedback : )
I love the way you explain everything...so clear and concise...question: Are you saying I should open an LLC for each property or can I have several (let's say 2-3 properties) on 1 LLC?
You NEED to have an LLC for EACH individual property. But make them as subsidiaries. If you get sued, the courts can say “oh, this LLC has more than one property” and force you to sell one of them to pay off a settlement etc.
So have your LLC looking like an umbrella and make sure you hire an accountant to keep your books clean if and when you feel like you have too many properties to manage come tax season.
So have your main LLC that owns your 1st property, then make a subsidiary LLC that owns your 2nd property, then make another LLC under your main LLC, that owns your 3rd property. So on and so forth.
Thank u
Excellent information
Thank you.
Can you report other expenses of LLC on Schedule C? Like expenses for searching for rental properties etc...
Can you set up an S-Corp rental property with a single member with multiple properties?
Hi. I have over 20 properties in one llc . Should I have a different llc for each one of them ? If so how do I go about transferring them to a different llc since some of them have mortgages on ?
So do you know how it works with airbnb? They only provide 1099s if you had over 200 stays and I had 198. Do i still need to file some type of taxes for the business LLC i have?
if you have more than one business, can they all be under the same business bank account or should I have all my businesses separate ?
I have a rental home which i let my sister live in it thoughout the year of 2022 without collecting any rents. So, do I need to file this home as a rental since I didn't receive any incomes from it?
If you are the owner of properties under your name and have a single member LLC, how do you pay mortgage, property tax, HOA, mortgage insurance and home owners insurance from the LLC bank account ?
Do I have to file schedule E if I have an LLC rental arbitrage?
so how is the form 8825 used on personal return 1040?
I would love to take your tax class. Do you offer one for tax preparers?
app.taxreductioncompany.com/tax-pro-grow
Can we use "tailor brands llc" to do This?
I have a question I pay property LLC taxes over $4000 and my neighbour who is next door with the same square footage pays almost $2000 less I understand she lives there but is this correct to pay so much for the same property? please let me know
❤
Thank you!
Why she is sound like teaching KG ?
You must be Karlton Dennis’s sister.
He is my son, but I appreciate that lol ...
I was suppose to get a book from her & they never sent it . I don’t trust nothing you say anymore
Have you reached out for support? which book ?
Lol Llo
Amazing… Thank you❤