Philip Feinstein
CPA Recommendations please and thank you!
5 March 2024 | 15 replies
@Lisa T.I recommend finding another accountant that specializes in real estate taxation.
Lotta Rozenson
bonus depreciation tax write off
5 March 2024 | 10 replies
@Lotta Rozenson,I recommend finding an accountant that specializes in real estate taxation.
Andrew Hinspater
LLC in State or Out of State?
5 March 2024 | 4 replies
@Andrew HinspaterI recommend finding an accountant that specializes in real estate taxation and LLC formation.
Nate Pucel
Buy, rehab, rent accounting questions
4 March 2024 | 4 replies
@Nate Pucel,I recommend finding an accountant that specializes in real estate taxation.
James Robert
Do I sell and set myself up OR keep as a break even rental?
4 March 2024 | 14 replies
Its not capital gains tax at all.So, none of what you just replied to technically works.Of course, consult a qualified professional...
Kashyap Shah
Asset Protection : LLC Formation for First Investment
4 March 2024 | 15 replies
Drawbacks may include additional fees for out-of-state registration and possible confusion with managing a remote LLC.2.Wyoming's laws and regulations may impact the management and operation of the LLC, such as annual reporting requirements and taxation policies.3.Specific requirements for out-of-state LLCs owning property in Texas may include registering as a foreign LLC and appointing a registered agent in Texas.4.There may be restrictions or limitations on the LLC's ability to purchase, sell, or finance property in Texas, such as compliance with state laws and regulations.5.Other considerations to be aware of include consulting with a legal or financial advisor, understanding tax implications, and staying current on any changes in laws or regulations that may affect the LLC and its operations.
Keith Goepfert
Minimizing Capital Gains when Selling House Hacked Property
2 March 2024 | 4 replies
If one is renting out a percent of their personal property, that same percent of the profits will be subject to capital gains tax at the time of sale.
Gary Fox
Ownership by Contributed Capital vs by Tax Capital Accounts in small syndications
4 March 2024 | 34 replies
This is wonky, but as you are discovering, a lot of this stuff is wonky:https://www.thetaxadviser.com/issues/2016/feb/taxation-of-wo...
Eric F.
WA -> Idaho Investing - Property & Income Tax Impact?
1 March 2024 | 8 replies
I'm interested in investing in Idaho, but I have zero experience with Idaho taxes (or state income tax at all for that matter).Questions:I've heard that property taxes in Idaho are higher for out of state owners vs. residents (i.e. a house could cost $2K in annual taxes for a resident, but may be $3K for an out-of-state owner).
Saqib Raja
Should I withdrawal my 401K to expand real estate portfolio
1 March 2024 | 40 replies
Not even sure where you are pulling 30% from...Taking money from a traditional retirement account(non-Roth) now or later is subject to income tax at your marginal income tax bracket.Any 'planning' around distributions that you can do later can also be done now.If you want to take money out in a year where you are in a lower tax bracket(result of going back to school, taking a year off from work to travel, a year where you have a lot of losses from real estate via Real Estate Professional Status, etc).Also, hard to say what your income / tax rates will be when you retire.