Maximilian Benjamin
Self employment tax with property in LLC
Sorry for the long post but I thought this was an interesting email conversation...
...which ensued when I began discussing with my CPA about future expansion and what I ultimately want to do with regards to real est...
Heidi Dunn
New Tenant Wants Employer to Auto Deposit Rent Weekly
My new tenant, who will move in Oct. 1st, has requested that her employer automatically deposit rent into our account weekly. Our bank said they would do it and it all sounds good to me, but I have never collected re...
Robert Chaiton
Self-Directed Solo 401(K) Real Estate Investing
Hi BiggerPockets,I have read the book advanced tax strategies and want to take advantage of the Self directed Solo 401(K) I have a few question and was hoping the community could help me out.Currently I have a W2 job,...
Account Closed
Is it ok to ask a potential tenant for 1 or 2 yrs tax returns to verify income?
About to screen a tenant for a rental. In addition to asking for their credit report, employment & rental history and contacts, can I also ask them for 1 or 2 years tax returns to verify income?
Tiarra D Taylor
1099 S form. Gross sale in wholesale question???
On a wholesale deal. $50k total sale, $11k profit. Double close process. 1099S form says $50k gross proceeds. Is wholesaler responsible for taxes on the whole 50k even though $11k was all they received???Or should thi...
Bryan O.
Solo 401k Attached to Passive Income Entity
Hi experts. I recently found out how contributions work for a solo 401k and that rental income is passive. So basically I'll never be able to contribute my solo 401k in this entity. Not the end of the world, but certa...
Kevin Wang
How to verify income for self-employed? First time landlord needs help!
Hello, I am a newbie landlord and is wondering how to verify income for self-employed people? Tax return? Please advise!
Christopher Dru
Reducing 401(k) Contribution to Fund Real Estate Business?
I have been reading a ton of material (including Bigger Pockets books!) on real estate investing to educate myself before purchasing my first property.I've been scanning the MLS and been in contact with my agent for t...
Justin Foster
Invest without income history
When I talked to my bank's real estate loan officer, I found out that I need 2 years of income history in order to buy my own property, even if I wasn't using a loan.
Can someone go into greater detail of thi...
Account Closed
Flipping Houses- Hiring Employees..HELP!
Hello all. I live in Texas and am a newbie in the real estate investment business.
I formed an LLC to put all the investment properties under. I have my first foreclosure under contract and close on it next week.
I ...