James Hock
Condo-ize apartment building to get under $500k in gain-Biden
It's my understanding that Biden's proposed changes regarding 1031 exchanges would not apply to real estate transactions where there is less than $500k of gain.My partner and I own a 10-plex apartment building next do...
Cory Land
Flipping through LLC taxes
I am having trouble finding article which discuss how taxes are handled when flipping properties under an LLC. If you could share an article or help with the below scenario, that would be greatly appreciated.
Our LLC ...
Julio Gonzalez
IRS postpones April 15 tax filing deadline
The IRS announced on today that they're postponing the deadline for all individual tax returns. Returns that were due April 15 are now due May 17. The IRS says it will issue formal guidance in the near future.
The ...
Carlin A Guarneri
Prospective tenant "has Tax ID but no SSN". What does it mean?
Hello,
Prospective tenant informed me her mother who will be living with her (and submitting an app as well) "doesn’t have a social security actually it’s just a tax ID." I've not heard of this before and was hoping...
Karen Eggett
Does disregarded entity issue 1099INT?
I have a single member LLC (BV) that is owned 100% by a partnership LLC (ML) and is treated as a disregarded entity with all activity being reported on ML's 1065. BV paid interest to individual investors and needs to ...
Guytho Roney
1 furnace 1 water heater 3 apartments
I have a once triplex converted to a duplex that I’m turning back into a triplex . hope that didn’t get too confusing.So I’m trying to figure out the best way to supply all 3 units with sufficient hot water in the mos...
Roselynn Lewis
Partnership Pitch
If you were pitching to a group of potential partners to collectively purchase an apartment. What would you include in the pitch?
Steve Donovan
Irrevocable Trust - what type of loan to purchase properties?
Hi All! I'm hoping someone has some experience with this issue and can share a solution. Our family has in irrevocable trust that has two properties among other assets. We will soon be selling one of the properties...
Chris Rightmyer
Bulk Sale Tax Strategies
Had a quick question that Im sure has been addressed at one time or another here.
I have come across a seller who has about 20 Single Family as well as a mobile home property that is looking to retire and unload all ...
Johnny Constantino
LLC for 4 unit?
Can someone tell me if you can use a LLC to purchase a 4 unit with 5% down fannie may after the recent change? Im trying to figure out how myself and 2 partners can all be part owners to get the tax deductions. Or can...