Steven Hamilton II
Correcting Tax Returns
I just spent several hours today correcting a few very incorrect tax returns prepared by CPAs who advertise their services here. In one cases this is going to cost the client a substantial amount of money. In the othe...
Nick Scalero
Self-Directed IRA Business Structure - Feedback please
So I have this chunk of change in my IRA. I found a company (NAFEP) who will be the custodian for a small fee. They will setup a Trust for me and buy interest in the Trust from the cash in the IRA. The cash will ...
Dustin S.
Self Directed Roth after FIRE
I have already hit FIRE and and am well below official retirement age. I am looking to keep investing into a ROTH IRA preferably having one of my LLC make an employee contribution on my behalf. First is this possible/...
THU NGUYEN
Paying your children to shift income from your business
Hi,Any tax guru can help me out on this question:I want to pay my kids for working for me...but don't really know the pros/cons between W2 - payroll vs Issue 1099?Thanks in advance for your help.
Russ M.
Screeniing Self-Employed applicants
Fairly new to the RE business and not sure how to handle this one, so I am turning to my new "friends" at BP :)Have an apartment opening up and have a potential tenant who has completed the application process. Yes,...
Steve J.
Should I create an LLC?
Hello BP,I am house hacking a single family and living in the basement. I hired a PM for the top unit, and they are requesting my social to report my rent income so it can be taxed. Since I am house hacking and this i...
Account Closed
Investing in too many different states?
Does anyone have any recommendations in the number of different states one should invest in? I know someone who has a "property in this state and a property in that state" and he doesn't mind because "the numbers mak...
Nghi Le
Deducting Personal Interest
If I have personal loans from family and friends (to invest in real estate), can I deduct the interest I pay to them? I recently learned that there are some interest expenses that you can't deduct, and was wondering ...
Jenn W.
Solo 401k to fund real estate purchases
Who here has personal experience setting up a Solo 401k or Roth 401k for Real Estate purchase? Was the process and on-going record keeping a mess? Did you hire a firm or an expert for the process? Has it all been wort...
Hogan Underhill
Organizing My Forms and Documents on a Rental
I just bought a house and turned it into a rental. I created an LLC for this property. My biggest confusion with real estate is knowing what documents I need to file and being organized with my property. I feel like ...