Account Closed
Paying tax lien subs when Property is up for sale
I bought a New Jersey utility tax lien for a commercial property and now considering paying the subs- property taxes for 2018 and 2019 that haven’t been paid. The commercial building has been for sale for $300K since ...
Paul Doherty
Better off liquidating property & paying taxes to get notes?
If I'm going to sell a property do you think I'm better off avoiding the taxes and investing 100% of it into 2 or 3 additional properties, or would I make more money by simply paying the capital gains tax on the proce...
Vilson Nikollaj
What tax documentation needed when paying referral
I closed an out of state wholesale deal and paid a local partner from the profits to handle everything. I plan to deduct that amount from my profit on the deal, but I wasn't sure if I would need to submit some documen...
Drew W.
Do the rich pay less in taxes?
Not to get too political. But do the rich really pay less in taxes like Mr.Sanders says?
Froilan Halili
paying sales tax on construction for rehab
I have a flip that i'm hiring for. My question is, my contractor is charging me for additional 10% sales tax for the whole project (labor and materials). Is that normal practice, to charge sales tax for both labor and...
Peter Maguire
Possible issues with paying Property Taxes late?
I'm in the final stages of a Flip project in Chicago (~3 weeks to completion) and the Property Taxes are due on March 1st. I'm close to maxed out on the rehab budget, and the $1900 for the 1st Instalment of Property T...
Colleen F.
Managing taxes when you pay your child
Ok so I hired my son to work on my rental , he is 17. Some of what he does is not 1099 work but employee work so we should be withholding taxes and sending to the IRS. can anyone recommend an inexpensive service...
Jimmy S.
I have to pay 2% transfer tax?
I bought a bank owned home and I was under the impression I only had to pay 1% transfer tax. On my end of contract just a normal contract says buyer and seller will split the transfer tax. The bank is the seller. Now...
Ed Neuhaus
Start a church and pay no taxes?
I was watching Last Week Tonight last week and it seem that there is a easy way to "start a church" and pay no taxes on income. Wondering if we can apply this to Buy and Hold real estate. No property tax or income t...
Max T.
Pay taxes on profits from land sale?
If I sell a piece of land I would take some of the profits and use them to refinance a rental property I own.
The rental was purchased with an FHA loan but it is now tenant occupied.
The idea is That this will i...