Employee Tax Expert
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CPA, Business Tax Expert
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Estimating taxes for depreciation recapture and capital gains on a rental property sale involves calculating the adjusted basis, total gain, and applying approp...
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Yes, it is most likely a capital gains scenario, but depreciation recapture is also involved and taxed separately.When you sell a condo that was used as a renta...
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Yes, you can use your own money and pay for equipment for you LLC and still potentially deduct the expense, but you must handle the transaction correctly by tra...
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I'd suggest forming an LLC if you plan to bring in capital partners or expand your portfolio of properties. Additionally, consulting a lawyer about liability pr...
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You should report any additional income earned from a second job on the highest earners Form W4 and increase the withholdings in the extra withholdings section ...
Activity Feed for Zachary_W
- Got Cheered for Re: sale of rental property. 2 weeks ago
- Posted Re: sale of rental property on [Event] Ask the Experts: Investments: Stocks, Crypto, & More. 2 weeks ago
- Got Cheered for Re: How will selling a condo that was used as a rental impact my taxes?. 2 weeks ago
- Posted Re: How will selling a condo that was used as a rental impact my taxes? on [Event] Ask the Experts: Investments: Stocks, Crypto, & More. 2 weeks ago
- Tagged Re: How will selling a condo that was used as a rental impact my taxes? on [Event] Ask the Experts: Investments: Stocks, Crypto, & More. 2 weeks ago
- Posted Re: Can I use my own money from my personal account and withdrawal cash to pay for a piece of equipment and still deduct that expense for the llc even though I used my own money? on Get your taxes done using TurboTax. June 25, 2025 4:24 PM
- Tagged Re: Can I use my own money from my personal account and withdrawal cash to pay for a piece of equipment and still deduct that expense for the llc even though I used my own money? on Get your taxes done using TurboTax. June 25, 2025 4:24 PM
- Got Cheered for Re: Rental income. June 25, 2025 12:11 PM
- Posted Re: Rental income on Get your taxes done using TurboTax. June 25, 2025 9:54 AM
- Posted Re: Why am I owing each year on Get your taxes done using TurboTax. May 28, 2025 4:33 PM
- Tagged Re: Why am I owing each year on Get your taxes done using TurboTax. May 28, 2025 4:33 PM
- Posted Re: W4 Withholding Update on Get your taxes done using TurboTax. May 28, 2025 2:55 PM
- Tagged Re: W4 Withholding Update on Get your taxes done using TurboTax. May 28, 2025 2:55 PM
- Posted Re: Owing taxes at the end of the year. on Get your taxes done using TurboTax. May 28, 2025 2:19 PM
- Tagged Re: Owing taxes at the end of the year. on Get your taxes done using TurboTax. May 28, 2025 2:19 PM
- Got Cheered for Re: How to set up W-4 for married filing jointly: 1 spouse is fulltime, the other has 1 pt and a side gig (self-employed).. May 28, 2025 12:15 PM
- Got Cheered for Re: How to set up W-4 for married filing jointly: 1 spouse is fulltime, the other has 1 pt and a side gig (self-employed).. May 28, 2025 11:08 AM
- Posted Re: How to set up W-4 for married filing jointly: 1 spouse is fulltime, the other has 1 pt and a side gig (self-employed). on Get your taxes done using TurboTax. May 28, 2025 10:57 AM
- Tagged Re: How to set up W-4 for married filing jointly: 1 spouse is fulltime, the other has 1 pt and a side gig (self-employed). on Get your taxes done using TurboTax. May 28, 2025 10:57 AM
- Got Cheered for Re: How to set up W-4 for married filing jointly: 1 spouse is fulltime, the other has 1 pt and a side gig (self-employed).. May 28, 2025 10:18 AM