Steven Baker
1031 New build sale into like kind
28 February 2024 | 5 replies
If you are audited and the IRS looks at your 1031 and there is only your word against your actions, you're going to lose the audit.I totally get you wanting to avoid those nasty ordinary income taxes.
Karma Senge
Peter Harris Coaching - Disappointed
1 March 2024 | 97 replies
“Success is doing ordinary things extraordinarily well.”
Rylan Zwanziger
Wealth Ability- formerly ProVision - Tom Wheelwright
28 February 2024 | 63 replies
@Christopher FrazeTo clarify, you need to meet two factors:1) More than 50% of the personal services you perform in all businesses during the year MUST be performed in a real estate business you materially participate.2) You must work at least 750 hours in a real estate trade or business.If either you or the spouse qualifies as a Real Estate Professional then you will be permitted to deduct all passive activity losses from your rentals against ordinary income from whatever sources derived.
Nicholas Aiola
Ask me (a CPA) anything about taxes relating to real estate
27 February 2024 | 2053 replies
Obviously, this will be taxed as ordinary income.
Tania Kenner
$12,000 to Replace a Sewer Line... too expensive?
26 February 2024 | 12 replies
No digging up of the yard or concrete patio required. 20 year warranty.
Ricky Rodriguez
Maximizing House Hacking Success
27 February 2024 | 12 replies
A bedroom that has a private sliding glass door entrance that opens out onto its own patio.
Patrick McMaster
STR CPA or Tax Preparer
25 February 2024 | 14 replies
Most common treatment is to treat it like a business =self employment income and then take a huge loss against your ordinary income
Jason Meissner
No Secret Sauce The BUDGET is GOD
24 February 2024 | 0 replies
What about the crack in the patio you are standing on?
Account Closed
Seasoned Real Estate CPA Expert Answering all Questions on Investing Tax Strategy
23 February 2024 | 65 replies
I see differing opinions as to whether a loss from a sale of a rental property is a capital loss or ordinary loss.
Logan M.
Cost Seg on two mobile home parks bought with 0% Down, this is a SUPER POWER
23 February 2024 | 0 replies
For you investors that have ordinary income to write off let me tell you the greatest secret to minimizing tax liability, Cost Segregation.When coupled with zero down seller financed purchases the numbers get crazy.These numbers below are one of two parks I bought zero down with seller financing last year.This one park one year is a $140,834 write-off equal to $40,842 in tax savings and the second park is $14,000.I am projected to save almost $60,000 on two community purchases that I don't have any of my money invested into, they were true 0% down parks.Don't kid yourself, real estate is the best investment opportunity that exists.