You'll also owe the 5.8% Idaho income tax on top of that. 

Guys I read a couple great posts here about HELOC for self employed businesses were there are many write offs to show an income on a tax return.  

I am technically an active CPA but haven’t been actively using the certification in almost 10 years and never specialized in tax, but I still have the general background and understanding.

That being said, I did get hit with a late fee for property taxes 2 days after I closed with DR Horton’s title company (which I was also forced to use) 

Tax BenefitsMy guess is if it doesn't cash flow, you will make money the other three ways that you wouldn't otherwise be able to if you rented.

We consulted with various underwriters and all said they would call for a release if this came up in a title search.  

A multi-member H/W LLC in NC will require filing a partnership tax return.

Consider consulting with a real estate attorney to review or draft your wholesale contract to ensure it adequately protects your interests and complies with applicable laws.

Hi Soyoung, Consider consulting with a real estate attorney or property management company familiar with the area.

We understand we need a lawyer to create a warranty deed but we have some confusion on how to handle to tax portion.