So I am currently set up as a sole member LLC (officially as of today) but have not yet filed the 8832 or 2553. My question is, does anyone have their LLC set up so that the only member is actually their living trust?...

Newbie investor here.I've read that I can deduct depreciation from my expenses.... What other non-cash expenses can I take out? A maintenance reserve? A vacancy reserve? Or is this not allowed?Also, I know I can deduc...

My wife and I are just starting out with REI. We've set up company emails and a website. Now we are trying to get the tax and EIN stuff straight. What's is the best path to ensure we don't start out on a bad note by p...

Hello,I'm interested in partnering on a deal with 3 individuals. In order to do this should we all create an LLC together for this one deal? Or will our individual businesses protect us? (One person is not protected b...

Gang,

I have a rental property I am planning to sell. I'm expecting to clear between $38k and $45k. I have owned it for over two years. What percentage should I be setting aside for tax purposes?

A friend of mine is a distressed homeowner with a very distressed house that has foundation issues, the exterior and interior is terrible, and overall is in bad shape other than a new tin roof. She has lived in the h...

As a wholesaler..when income tax season comes do I have to file income tax for any of the properties I wholesaled?...

If yes or no..what else am I required to report on income tax?

Thank in advance!

Posted in the wrong area originally. My wife is interested in assuming her mom‘s mortgage. We have checked into this and it is something that she can do. However, the question we have is, if she assumes the mortgage a...

How do agents market upcoming open houses for their properties other than posting to Instagram and setting the open house times on the MLS?

Good afternoon BP. My father wants to sell me his primary residence and move in with my sister. He is 64 yrs old. He collects social security and has a part time job. The Property is worth around $425,000. He wants to...