Brooke Kelly
Which US State is best for buying houses from Property Tax Sales?
I want to buy houses/condos at property tax auctions and do minimal work to fix them up and then sell them quick. My plan is to make this an official business and do it full time, probably 5 or 6 houses per year to s...
George Walls
IRA vs Roth: rollover or not?
Given this year's Roth conversion rules, and next year's higher taxes, has anyone done the math to figure out if it makes sense to do a Roth rollover rather than buy in an IRA?
For simplicity assume enough cash on...
Lauryn Meadows
Exiting Coroporate America and Rolling over 401k to REI
Hello BP! I have a family member looking wanting to exit his corporate job and start investing in RE. He has $1m+ in his 401k. What are the best tax strategies to mitigate the tax burden and avoid the 10% hit on being...
Drew Davis
Capital Gains and 1031 Exchange
Hello everyone,
I was wondering what the best way for me to avoid capital gains on a property I bought 6 months ago. What are some options?
Thanks,
-Drew
Sean O'Keefe
BOI Report deadline and the enforcement of penalties are back as of 12/31/2024
I wrote this post a few weeks ago, below, warning real estate investors, with entites (e.g. LLC, S-Corp, etc), to file their BOI Reports by the end of the year to avoid being penalized up to $10,000 per entity. I also...
Hiroe H.
Avoiding FIRPTA with 1031
Hi! I am trying to do 1031 exchange. The house which we're trying to sell has 2 owners, a foreigner and an US citizen.
1) Does FIRPTA 15% withholding apply to us? or it's not required since the US citizen can file ...
Michael Terry
Mortgage Notes & LLC Taxes
Good morning all, I have formed an LLC out of state in order to insulate myself when buying mortgage notes. If I put that asset in the name of my LLC and receive payments through it, I am assuming I will have to pay s...
Michael Plaks
How 0% capital gain rate actually works
"For the first $40,000 of your income, the capital gain tax rate is 0%! You pay nothing!"
Fantastic, but what does it actually mean?
If I have no job and sell a property for $100,000 - does it mean I pay nothing for...
Account Closed
Transfer Taxes on Double Closing
How many Wholesalers doing Double Closings are paying the Real Estate Transfer Taxes?These can be quite expensive in some places. For instance The State of Pennsylvania charges 1% of the sales price and the munici...
Joel R.
Am I required to issue 1099s to contractors if I only have one rental unit?
Hello Everyone! I am looking for some advice regarding the 1099 / 1099-NEC tax forms and whether or not I must issue these to contractors for my specific rental property. I currently own just one property (a duplex) a...