Ashton Karp
Home equity loans to avoid capital gains upon sale
I am not in a position to act on this question but am genuinely curious about its possibility. When it comes to capital gains tax, this is paid when selling an asset for a profit after any adjustments that can and are...
Coleman Nelson
Tax Implications of Equity in LLC in exchange for Sweat Equity?
I am partnering up with a couple guys who have a successful rental real estate business. I will become a member of their LLC in exchange for the work that I will be performing managing all of the rental properties. ...
Chris Martin
Census Median Net worth: Renter $5K, Owner $234K
I came across this table on the census web site. Table 721 from this census data has breakdowns of the median (and mean) net worth of Americans by age, race, and tenure. In almost every category, there is quite a wide...
Kaaren Hall
Financing Self-Directed IRAs and Solo 401ks in Real Estate Investments
Introduction to Real Estate Investment through Retirement Accounts
Have you ever considered that a Self-Directed IRA or Solo 401k could be used to invest in rental real estate? Surprisingly, many people are unaware...
Lance Lvovsky
Tax Summary of Coronavirus Relief (CARES ACT)
On Friday, March 27, the President signed the massive $2 trillion coronavirus Stimulus Bill (the Coronavirus Aid, Relief and Economic Security [CARES] Act) to provide assistance to workplaces and employees. The law pr...
Eli K.
Which Expenses are fully deductible on a rental property?
I read many articles saying that you can deduct your property management fee or your repair costs or your insurance cost from your tax on your rental property, are those fully deductible??? Like if the property manage...
Paul Johnson
Should I use 414h money to pay off cc debt
I'm just about 62 years old.I have $266,000 in a 414h account. This is like a 401k but for government employeesI have 50k in assorted credit card debt. cc interest ranges between 14 and 22%.My salary is just under 1...
Allie Dattilio
HELOC Appraisal — where do they get values for virtual appraisal?
In the process of applying for HELOC, bank uses a virtual appraisal. We can then pay for a full walk through appraisal if we’re not satisfied.But looking to understand what values/comps they use for a virtual appraisa...
Anthony Gagliardi
Taxes: Personal distributions from a Refi
My business partner and I own a few investment properties under an LLC. We bought one last year, renovated it ourselves, and didn’t pay ourselves a dime for labor. The mortgage we took out covered the purchase price p...
Bilal A.
Any High W2 earners out there?
To the High W2 earning BP members out there, what strategies have you used to decrease your W2 taxable income? Depending on what state you earn your wages, income tax rates of 40-50% are unreasonable. Most of you like...