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17 February 2024 | 1 reply
I am a home owner looking for a tax professional who can help me get maximum tax deductions on my home.
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20 February 2024 | 11 replies
If your situation qualifies as an unforeseen circumstance, you might be eligible for a prorated exclusion based on the time you spent in the home.It's crucial to consult with a tax professional or accountant to get advice tailored to your specific situation.
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19 February 2024 | 13 replies
Accountants are in such demand, that the best are not even accepting clients half the time.The other problem I see often with accountants on here is that they specialize in larger investors, and have really high prices when you as a smaller investor do not need all the bells and whistles.Another thing I see is folks thinking they need to have a tax professional in their state.
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20 February 2024 | 6 replies
This gets quite tricky and you should seek professional advice.Here's the part about the post that really jumps out at me as a red flag: the math.
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17 February 2024 | 4 replies
.💫 I would like to buy my first investment property this year, to offset my husbands W2 income, using the professional real estate status.
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19 February 2024 | 7 replies
I know you are consulting a professional already --- maybe mine is wacked out, but perhaps find some other ones.
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17 February 2024 | 5 replies
It may lend you a little privacy, but folks who want to find you will just look up who created the LLC and then find you.That being said, in MO, they are incredibly easy to set up, and are not that expensive to establish (~$50 last I checked, although that may have gone up) and doesn't require any input from an attorney or tax professional (in my state)Personally, I have an LLC bc I pay myself through an S-Corporation as a realtor...the savings come out in the wash, but it allows me to pay taxes quarterly and avoid end of the year surprises.Another reason you may need an LLC is if you are investing with partners, and/or seeking certain loan types ( I know hard money lenders often require an LLC)Once again, this isn't my wheelhouse, so at the end of the day, I would reach out to a tax professional to learn moreLong answer short: in my opinion, you do not need an LLC if your plan only involves renting out your inherited home
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18 February 2024 | 20 replies
I plan on moving out of NJ to get my real estate investing journey started.
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18 February 2024 | 3 replies
This will help people connect with you after determining how their goals, services and resources align with yours.All the best to you on your journey!
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18 February 2024 | 4 replies
Great to see other young aspiring real estate professionals.