Juan Pablo Murillo
Benefits of Not Forming an LLC
Hello BPers,This past 2018 I purchased two rental properties under my name. The earnings are under an LLC after filing a quitclaim deed. I'm curious if there are any tax benefits of not renting your properties under a...
Ellie Narie
Who is allowed to claim rental income?
If an unmarried couple wants to buy or build a fourplex, should both of them be on the deed? Who would be allowed to claim the rental income? Let's say one spouse works and earns money, and the other spouse doesn't wo...
Arshad Hussain
CPA is refusing to include solo 401k in the tax return
My CPA says solo 401k is not allowed in my condition while several providers say it is allowed , who should I listen to. I want to use solo 401k so how can i convince my CPA. He says this link not applies:https://www....
Alex Scotte
Are there penalties for withdrawing roth IRA?
The money I used to start the IRA was post-tax and the value of the IRA is less than what I invested. I was thinking of waiting for it to even out, or close to it, and re-invest the money somewhere else. Are there pen...
Robert Bolejszo
NJ: Opening a Property Mgmt Company to manage my own Properties
I currently have two properties (and plan to grow) and my attorney advised against me opening and moving my properties under a LLC, as I financed the properties under my name and I'm told mortgage lenders frown upon t...
Sarunas Siauciunas
First deal
Hi my name is Sarunas. Im going to get my first deal. Im not sure if i should go with multiple family home or single. I will not get the conventional loan since my job swiched a few times in last few years. Im looking...
Douglas B.
Can someone explain the benefits of rental income tax savings?
I've heard it said that business income is handled differently than traditional earned employee income. Can someone explain this in an example for me? For example, how is $10k of earned employee income taxed dif...
David Wilkes
Family Loan w/ Single-Member LLC Question
Hi All!Brand new to BiggerPockets and am hoping that someone out in the forum community may be able to provide a bit of guidance on an interesting topic for me. As a bit of background, I'm a resident of New York stat...
Kevin Yeats
Goal Setting
Previously, I wrote about how sports teams work towards a goal
http://www.biggerpockets.com/forums/56/topics/70880-thoughts-on-the-big-game
I hope you have heard of “SMART goals.” SMART is a mnemonic for Specific, ...
Shahriar K.
$3000 in rental income
Good Morning BP memebers
Although I have been mostly looking at flipping properties(still looking for that first deal), me and my wife were thinking what would it take to earn $3000 in passive income after al...