Martingale Kim
out of state rental income state reporting
I'm a MD resident and have rental income in Philadelphia, do I need to file and pay PA state income tax and get refund for the PA tax from MD state tax?
Daren H.
Tax Question on Direct Mail Expense
Up front disclosure, taxes are not my area of expertise neither is direct mail. I have a question in to my CPA on this and was curious what the tax pros on BP would say. I did some direct mail marketing for several mo...
Alon Haramati
Market Metrics to Identify New Hot Markets
[I'm a small investor from Tel Aviv, Israel, investing mainly in Israel and Central-Eastern Europe]
Hi All :)
I'm trying to compile a list of metrics to use in order to identify new markets to invest in Europe. Thu...
L. Brown
Tax deduction on house hacked home warranty
I just bought my first home- a house hack! I would like to purchase a home warranty insurance. I was wondering if the cost of the warranty for the whole duplex (not just the cost of the rented side) is tax deductible....
Account Closed
Advice on excess 2019 contributions to Roth IRA
Hello all.
As I was preparing my tax returns, I realized my 2019 AGI exceeds the IRS income limits for full contributions to a Roth IRA, which carries a 6% penalty for every year the excess along with its correspondi...
Chris P.
CO LLC, FL properties... good idea?
Greetings,I'm military and move around a lot. I have two properties in FL and one here in CO. I was wondering if it's better tax-wise to have the FL property income under a FL LLC or if it matters at all? Can I put...
Jason Clarke
Aspiring RE Investor from Central NJ
Hi BP! I hope everyone is well. After listening to numerous BP podcasts over the past several months, I felt it was time for me to jump in and become an active member of the site. I am looking to purchase my first ...
Dirk S.
Tax implications on sale of principal residence
Hi
I own and lived in my principal residence for over 20 years and a significant capital gains.
1 If I sell my principal residence I pay no tax on the first $250k of capital gains (filing single), but if I have ad...
Ben Parks
Which entity and why?
I am trying to set up my investor company. My plan is to buy off market deals, either rehab and rent, or flip. I was set on an LLC. But after more reading, some have suggested an S-Corp for flipping and then individua...
Kitty Jedra
Capital Gains Tax
Hello Everyone!I plan on selling my single family home and purchasing a two family home in order to help with expenses. I purchased my home for $340 and it is now worth about $400. Do I need to invest on a property th...