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4 January 2025 | 25 replies
In addition cash flow is taxed annually.
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8 January 2025 | 14 replies
You might even want to setup a C-Corp (for tax and liability reasons as well) to manage the business with the guests and pay rent to your LLC.
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12 January 2025 | 25 replies
This in a neighborhood that is slowly appreciating, some renovated homes mixed in with older homes, but is street by street:Purchase price: $130,00001% rule: meets about 0.88% Down payment 20% and closing costs: $29,493Rate: 6.99% conventional 30 yearMonthly payment PITI: $1009 (was $859 until property taxes increased recently) Current rent $1200 (increased from $1150)Property management fee 10%: $120 (was $115) Net cash flow (if no repairs called in): $71 (was $176)Net rental income most months: $170 (first month rent), $935, $922, $1035 (full month rent minus PM fee) $567, $760, $307, $963, $1035 (full month ), $535, $925, $1035 (full month but now property taxes increased), $585.
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29 December 2024 | 6 replies
I owe about $289K and it's worth about $310-320K.
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7 January 2025 | 4 replies
I have a tax firm that specializes in working with real estate professionals/investors.
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15 January 2025 | 8 replies
Very sad, very taxing, a lot of effort before you have a deal to show for it.
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3 January 2025 | 5 replies
@Steven HsuBigger Pockets is a great place to find a real estate tax accountant.A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.
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9 January 2025 | 10 replies
The rest, put you on near-worthless drip campaigns, don't understand calculating the offer price based upon rents - property taxes - insurance - MNT & Vacancy percentages, etc.DM @James Wise to schedule a chat with him!
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24 December 2024 | 2 replies
If you don’t pay the tax when you transfer the stock to them they’re going to owe the taxes on your gain and you haven’t really “paid them back”.
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4 January 2025 | 11 replies
An LLC doesn't make a difference in your federal taxes or what you can deduct.What you want to do is technically possible, but there are several hurdles.