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5 July 2024 | 4 replies
In general, it is always good to look at the taxable value every year for your property while you still own it when the tax statement comes.If you feel you can support a lower taxable value with sold comparables that are like your property nearby, then it is worth your time to try to dispute the value.It is true there is a very short timeframe to schedule a time to go in and dispute the taxable value with your local property tax assessor usually and the deadline is printed on the annual tax statement.The reality is real estate does not always go up in value.To your success!
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3 July 2024 | 2 replies
By accelerating your depreciation schedules, you reduce your taxable income which in turn increases your operating cash flow.
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3 July 2024 | 4 replies
Reading through some other forum posts, it looks like there are much simpler partnerships, entities, or offerings that would meet what I am trying to do:My Role:-Decide on properties to purchase, mostly SFHs-Establish LLCs or other business structures to hold the real estate and distribute returns-Purchase properties, using loans as needed depending on the ROI/cash flow desired from investors-Act as property manager for the properties-Depreciate properties held in business entities to minimize taxable income to investors-Distribute returns to investors-Create investments that have high cash flow (CF) and low appreciation (App) , moderate CF and App, low CF and high App-Find investors from connections, friends, and family with no public advertising-Advise in a minimal capacity on tax and real estate strategies-Send investment reports to investors-Be fiduciary to all investors-Receive compensation from PM and other management work I do related to the investmentsInvestors:-Can be non-accredited -Invest as little as $1000-Can use retirement accountsWhat references can people recommend for me to learn about business structures, partnerships, securities, taxes, or other topics to get me started on learning what will work for my goals?
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2 July 2024 | 4 replies
"As a third-party online payment facilitator, Innago is required to collect tax information for any taxable entity that receives more than $600 in payments.
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3 July 2024 | 25 replies
They are planning a cash out refi (which is non taxable) which I'm including the reinvestment into the IRR.
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1 July 2024 | 5 replies
So.. if you accountant finds ever single expense/deduction to throw in your tax return to reduce you taxable income, most people appreciate it.
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30 June 2024 | 1 reply
If after reading your operating agreement, you are still not clear on the procedures, a call to your attorney may help.Assuming the LLC operating agreement is unclear or silent on the issue, I would think a non-cash trade of shares for equity might avoid a taxable event, but am not clear.
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1 July 2024 | 23 replies
I move cash from my checking account, that I don't need each month (your 130 dollars a week) into my taxable brokerage account, which is my "cookie jar", and then I buy a wisdom tree ETF ticker USFR which holds eight week US Treasury bills and currently pays 5.4%. and it re-adjusts much faster to interest rates than savings accounts or even money market accounts do.
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29 June 2024 | 7 replies
The software normally has the information so it would be hard for a PM to make a mistake on the financials unless they changed settings in the software (such as what is included or not included in Taxable income on the 1099).So, our clients don't have issues with their year-end financials and 1099s.
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28 June 2024 | 41 replies
@D Giambo, Contributions into an LLC are not generally considered taxable events.