Tiffany Jones
Land Contract on a Mortgaged Property
Hello All,I have an investment property in Baltimore, MD that I would like to sell. I have someone that is interested in the property and wants to do a land contract agreement. He wants to keep the property as an in...
Byron Valles
Why you should consider donating appreciated securities instead of cash
Donating appreciated securities to a charitable organization can be a smart way to give, both for you and the charity. When you donate appreciated securities that you have held for more than one year, you can avoid pa...
Brendan M.
What are the tax implications of paying myself to property manage?
I just bought my first multifamily property and I have been thinking about how to maximize my tax benefits on it. If i can write off property management fees as an expense, can I pay myself (either as a sole proprieto...
Josh M.
Rental Property Tax Strategies - First Time Filling
I apologize in advance for the number of questions. I have tried to phrase them in such a way that it provides my conclusion and I am mostly looking for confirmation.If a CPA wants to do a quick review my return and d...
Michael Plaks
QBI calculation for Sch C - accountants are confused, too
Guys, we know that 20% applies to the Qualified Business Income (QBI). Let's ignore service businesses, phaseouts and all other complications. Let's take a wholesaler netting $100k. So, he just gets a $20k below-the-l...
Jim M.
Deductions for a newbie
So I am a brand-newbie at this, have not done a deal yet. I realize that the very first thing I need to do is educate myself, which will probably take several months (which will put us into the next tax year) before ...
Jacob Gelinas
Airbnb in Rural Areas
Hi all,I found a property in rural Vermont that is very reasonably priced and I'm thinking about buying it as a vacation property. My goal however would be to essentially own the vacation property at no cost by using ...
Michael Plaks
DEBUNKED: EOY tax planning "tips and loopholes"
Yes, this is an angry kind of post. I don't have much patience or sympathy towards the annual flood of "Terrific End-of-Year Tips to Cut Your Taxes" webinars, podcasts, articles and whatnot. You want a sample of this ...
Scott Gadea
Can I write off a truck?
I owe 2 rental properties, (5 doors), in California. The 1st property is a single family home which is about 5 miles away from where I live. The 2nd property is a 4plex which is about 140 miles away from where I live...
Michael L.
Rehab edumacation time🤣
Great Afternonn BP Fam! I've heard many approaches and I presume there is no right or wrong but I'd like some more feedback if yall don't mind chiming in;
1, Do you give your contractor a % to start the work, and if ...