Jeremy Buttell
Out of state tax return, Indiana.
I'm in CA and have rental properties in IN. My CPA says that since I had no gains (expenses/depreciation was greater than income) I don't have to file an Indiana state return. Is he correct?I already found errors in t...
Abad Marroquin
Is it a Refinance Cash Out or a Sale that will make me pay taxes?
I applied for a refinance cash Out with Corevest, a National lender. In the summary of terms that I signed at the beginning it says refinance cash out. My properties are in a Georgia LLC. As part of the process they ...
Zach Adams
Next deal: 1031 exchange for a Multi-Family Quad
Good evening all - I'm looking to purchase a multi-family quad for my next deal. I have a SFR in Atlanta that has about $55k equity and could sell for $165k. CapEx has been one thing after another and every time I g...
Jeffrey Messee
Real estate license
I am wanting to invest in buy/hold and flipping. Would it be good idea to get a real estate license or waste of time and funds?
Kyle Houlahan
Real Estate LLC, Net Loss/Tax Deductions
Hello everyone, my name is Kyle and I've recently decided to begin investing in real estate. After finding myself on BiggerPockets almost daily reading through posts, I've decided to join!Long-story short, I've create...
Robert Hastings
write off consultant fees?
i have a CPA but before i run this by him i wanted to ask the forum first...my rental business has several properties but all my rental income rolls up into 1 LLC. i know some people have different llcs for different...
Namal Burman
How to reduce Real Estate Income from rentals for Tax Purpose?
I have two rentals along with primary residence. Now the rental income is increasing my tax burden as an income. Any strategies i can use to reduce this rental income? Should buying another property would help? Any po...
Max James
How Much am I Being Taxed on Rental Income in Ohio?
Hi! First off, please forgive me for my level of tax ignorance. My friend asked me this question who is looking to get into REI and I honestly could not answer it. That's what BP is for :-).If I am grossing $2,000 ...
Syrica Brown
LLC question - OTC properties (tax certificate)
I have a couple of properties OTC and currently have the tax lien certificate. I've been getting advice that I need to setup an LLC for asset protection. I am not sure of the purpose or if this would be beneficial for...
Minh Lai
Are operating expenses tax-deductible? & Other Tax questions
Hello, I got some caffeine in my system so let me know if you do not follow. 1a) I know that Interest on the mortgage is deductible 1b) I know that property depreciation is tax-deductibleTotal Tax Deductions = (Inter...