Andrew Gomez
Questions about covering property taxes with depreciation
I own a trucking company (semi trucks) and a few of them i have personally guaranteed and appear in my credit report. My question is, in Texas my Taxes are usually net negative due to the ability for depreciation on t...
Vince Natteri
Taxes on Memphis property for a foreign investor
Hi guys,Just a quick question to see if someone knows the answer to this.As a foreigner residing in Singapore/Hong Kong, if I buy a property in Memphis (where there's no state tax), do I have to pay any federal tax on...
Nancy Nobles
Newbie Lien Question
My uncle quitclaimed me a home in need of repairs. I hired some contractors to do some work on it and get it ready to sell. It is now finished and ready to sell. Apparently My uncle got the property through a tax lien...
Clifford Pereira
Real Estate Professional (REP) Status guidance
Hi, my wife and I started an Airbnb in Sacramento, CA, this year and are new to real estate investing. According to our understanding:1) California does not recognize REP status, but we could claim it on our federal t...
Justin Turner
Taxes on 1099?
I just got my first check for $12,125 from a birddog fee on land/timber. Now how much to put away for taxes? I live in texas.
Thanks everyone in advance.
Ernest Quallis
LLC'S in different states
So I have listened to multiple podcast referencing the benefits of having an llc. However I have recently started 3 llc's all in different states , GA, VA, NC,. is there a way to set up all my LLC's to allow for one t...
Seth Murray
South Dakota Tax Haven
Really interesting article on the tax haven of South Dakota. Any thoughts on how this applies to real estate investment? Seems like you could dramatically increase your net profits when selling properties with no capi...
Richard Z.
LLC partnership buyback tax question
I have a question regarding LLC partnership buyout tax implication. I'm making a simple LLC scenario for easy discussion.The LLC has three partners A B C. LLC did real estate development project: it bought a land and...
Omar Malik
Bonus Depreciation in Non-Conforming State
I have a short term rental that I did a cost segregation on and am taking accelerated bonus depreciation. I live in OR but my rental is in AZ. My issue is AZ is a non-conforming (does not recognize the bonus). If I...
Bill Hampton
For Tax Year 2016, IRS E-File Closes on November 18th
For Tax Year 2016, IRS E-File Closes on November 18th; After That, Disaster Victims, Others Need to File on PaperWASHINGTON —The Internal Revenue Service today reminded people, including those in disaster areas, who w...