Unfortunately, the tax code can be a burden for those who don’t understand it. But the good news is that if you find a great CPA to work with, they can utilize tax optimization strategies that help save you money. Ins...
When most of us think of having the IRS audit us, we get anxious. Audits can be very expensive, invasive and ultimately time consuming. Some audits are inevitable. However, there are multiple preventative measures tha...
Long time lover of real estate but relative newbie to investing. It’s tax Season and in doing our 2019 taxes I asked about strategies for reducing taxes. I made just shy of $100k last year and want to start investing ...
Hi All,I understand that there are great tax benefits/write offs as it relates to the purchases you have made towards your rental property like depreciation, maintenance fees etc...My question is...Are there any tax b...
Hi Community Newbie to the community looking to get started in rental properties. I've heard of people using rental properties to lower their taxable income but I'm not clear how this is possible. From what I'm gath...
I just bought my first multifamily property and I have been thinking about how to maximize my tax benefits on it. If i can write off property management fees as an expense, can I pay myself (either as a sole proprieto...
Hello,I am exploring the possibility of converting some or all of my Rollover IRA account into ROTH IRA account to reduce my tax burden when I retire. I understand that this would be a taxable event and I would be req...
So my father is looking to buy a rental property. Potential NOI totals to about $40,000 a year although the ROI isn’t marginally positive so he would almost have a 0% return on investment. He will be retiring in the n...
Hi tax pros - I have a question about REPS status.First, selfishly, do you believe that my job as CEO of BiggerPockets, which I spend obviously spend essentially all working hours on, and dwarfs activities involving m...
I currently have an LLC with another partner. We generate income through web and mobile consulting services. Is there anyway to reinvest that income into real estate as that LLC? What I'd like to accomplish is to be a...