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Updated 11 months ago,
Very New investor with very little tax knowledge
Hi everyone, i wanted to put my ignorance out there and see if I can learn some valuable information from you all.
I'm looking to form a simple tax strategy based on a very small portfolio, I want to do it right while taking advantage of all the tax advantages that come with REI.
I've owned a single family home for 2 years, my primary was owner financed, and im an LP on an rv park.
What advantages/tax forms should i take advantage of, how does owner finance vs traditional lending change things and how does rental vs primary change things?
Is a professional needed for this or can i file independent? Im not against either just looking for the most bang for buck method.
Any insight helps and all information is likely to be new info.