Ed Dunbar
ADU being taxed as a commercial sale?
Hello!We sold our home after living there for over 5 years. The home had an ADU which we used as a home office. We sold in 2022, and our accountant is saying that we somehow owe taxes on a portion of the proceeds as t...
Chris Coleman
Tax Deductible of Cash from Refinance of SFR
Does all of the cash from a Cash-Out Refinance on a Rental Property have to be re-invested in order for the Interest on the new loan to be fully tax deductible?Or can you do something else with some or all of the cash...
Edward Adams
Roof Replacement Depreciation
Hii just changed the roof on one of my rental properties. it cost 18K and insurance paid for it and i only paid 1.5K for deductible. do i just depreciate the 1.5K on my tax return or 18K?
Nick Coons
Capital Gains vs. Ordinary Income, & 1031
How long do I have to own a property before I sell it and the proceeds are subject to capital gains taxes vs. ordinary income? I believe it's one year.. but is that a calendar year (i.e. 1/1 - 12/31) or just 365 days?...
Keith Meyer
Tax Advice Needed (willing to pay): Loans proceeds in S Corp
I'm looking for some expert tax advice on this situation and willing to pay $$ for it. In essence, we've recently received loan proceeds into an S Corp which is a single-asset entity owning a large commercial property...
Alik Levin
HELOC interest deduction - New Tax Law
Dear all,What's the definitive answer - and preferably pointer to authoritative resource - regarding deductability of interest on HELOC with the passage of new Tax Law? I do realize that HELOC interest deduction now o...
Jack B.
Will I owe capital gains tax on this sale?
I have lived in my single family house for a little over 2 years. I rented the apartment above the garage out for 1 year. I was thinking of 1031 exchanging 20% of the proceeds from the sale (20% because that is how mu...
AJ Witt
Personal Loan to Fund an LLC for REI
I have taken a cash-out loan on my personal residence to fund an LLC in which I am buying real estate.
From an accounting standpoint, what's the best way to structure this? Can I consider this cash infusion into the ...
Tam Vo
business entity
Hi,
Should I create my own business entity when I' trying to partner with another wholesaling? Where should I find the information on legal subject on this forum.
Thanks,
Marc Sanders
Student Housing
Numbers work well for building a duplex on a site within 10 minute walk of a medical/dental school and 5 minute walk to two other private colleges. Do not have the 20% - 25% needed for conventional financing. Looking ...