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Results (10,000+)
Sachin S. STR tax strategy to offset W2 when I buy land first and then build home ?
30 August 2024 | 6 replies
It is just the IRS tax rules.Next up is I would get a good CPA and go over your plan.I think you aren't going to be able to meet your goals but being involved in the construction.
Jonathan Greene 5 Tips For New Investors - Which ones are you doing and which do you need to do?
29 August 2024 | 8 replies
It takes almost no effort to hop on Facebook, Twitter, threads, or other groups to spew nonsense.
NA Reddy Would I benefit from an LLC if I invest in RE thru Syndications
31 August 2024 | 12 replies
From an income tax perspective, the LLC provides you with absolutely no benefit.Even from a "anonymity" perspective - if that is a Single Member LLC, the K-1 from those syndicates is still required by the IRS to be issued directly to the beneficial owner - you.If you don't make it a single member LLC, say your spouse is also a member, now you have a partnership tax filing - if it holds a number of LLC interests, it is now a partnership filing that is a pain to file to roll all of those activities in and report it on to your personal returns.In short...most likely it is best to keep it simple. 
Edward Barrett LLC Best Practice
30 August 2024 | 15 replies
@Edward BarrettIf you sell multiple anything in a given year, cars, properties, boats etc the IRS views that as 'dealing' inventory.
David N. When and how is the best way to do a cost segregration analysis?
30 August 2024 | 13 replies
To make matters worse, the IRS will recapture all of the cost-seg stuff that lowered your basis, which means you will be taxed on a significant gain, even though you lost money.
Cherry Mae Bimbo When to include appliances in a cost seg study
29 August 2024 | 2 replies
IRS Publications 946 (How to Depreciate Property) and 527 (Residential Rental Property) can offer some guidance. 
David Narvaez Should I file my own taxes?
31 August 2024 | 16 replies
You do need to send in a check with the extension, the irs provides guidelines for calculating the amount.Real estate investing complicates taxes sufficiently that I have found I save way more than I spend by having a CPA who specializes in real estate investor tax returns.
Ryan Cleary 1031 into a BRRRR deal
29 August 2024 | 3 replies
The key is that the property must be rented out before you refinance to ensure it meets the IRS requirements for a like-kind exchange.
Marni Blank 1031 exchange question involving LLC's
29 August 2024 | 5 replies
The IRS has shown that it is OK with selling to a related party to start a 1031 exchange. 
Keri Aiken Banking in the state of your LLC. Can it differ from your home state?
30 August 2024 | 11 replies
Once you've done that, you'll want to take your Articles of Organization from WY, your registration in FL, and your IRS SS-4 form, which is the letter you got when you got your EIN number when you first started.