Andrew D Hansen
Depreciation recapture selling rental house
16 September 2021 | 3 replies
It is typically taxed as ordinary income up to 25%.Best of luck!
Karl Kaeser
Need advice for a weird situation with a property sale gone bad
17 September 2021 | 6 replies
(They wanted to replace the deck in the back with a paver patio since they claimed the deck was unsafe... not true, but I'm getting a new paver patio and full asking price so we said okay).
Jesse Juris
Wholesale deal analysis
20 September 2021 | 9 replies
@Jesse Juris Yes, the 40 years is also typical in a loan mod….this is not an ordinary refinance.
Jeffrey Vanicky
LLC formation and growth while protecting personal assets
19 September 2021 | 7 replies
Flipping homes or wholesaling are both considered earned (or ordinary) income. 4) I think you are assuming there are tax advantages to an LLC that don't exist.
Sigurd Panke
Sell a rental house w/ owner financing and pay 0% capital gains?
4 October 2021 | 5 replies
A portion of what you receive will be apportioned to depreciation recapture, so you’ll pay ordinary income tax on that amount.
Jeff Schemmel
Fall Housekeeping - What's your process?
20 September 2021 | 3 replies
During this time, I will be doing a basic inspection of every room and noting anything out of the ordinary or what looks like damage/deterioration.
David Sisson
Dumb question(s) about investing profits / taxes
19 September 2021 | 5 replies
The important part is that if you are you can offset ordinary income, otherwise it can only off set passive income or a limit of 25k.I am not an accountant, but this is my understanding.
Daria B.
Tracking Note Income (capital gain from sale or income)
12 October 2021 | 9 replies
The delta is your profit and loss (which in my business notes are considered interest and taxed as ordinary income).
Jacob Beg
How to get rid of a neglected swimming pool?
1 December 2021 | 22 replies
I would probably just lay concrete slabs on top to make a partial patio as its only a rental property.
Andrew Weidinger
South Tampa Porch Screening
19 November 2021 | 0 replies
It is a smaller project, about 200 sq ft patio that only needs two sides enclosed.Thank you in advance.