Andrew Heinzmann
Property Transfer Tax Advice
Hello,I am looking to transfer my first investment property located in Chicago, IL from my personal name to my LLC. Everything I can find online shows I will pay $5.25 for every $500 of the transfer price, which will ...
Account Closed
Tax on gift from foreign person
Hi,My parents are looking to gift me and my sister some money this year. I did some research into the rules on taxation for gifts from a foreign person and wanted to confirm my understanding (given innumerable loophol...
Hollis G.
Violation of SEC rule for Private Investor
Does asking a question in an ad ie: "Is your money earning you 8%, 10% or even 12% Returns?", and then supplying someone information on Trust Deed/Private Note investing, in violation of SEC Reg 506 D ruling in regard...
Scott Shold
Illinois homestead exemptions for rental by family members?
Hello BP community. Interested in finding out if anyone has had general homestead exemptions and or senior citizen homestead freezes applied to their property taxes for a family member that rents a SFR from them in Il...
Vu Truong
250k tax benefit to upgrade new house or just buy another house.
Hi everyone, I just married last year. Both of us have our own mortgage for more than 2 years. We are looking for a bigger place to live. One of the place will be for my parents . Shall we rent out the other or sell i...
Thomas Larsen
Claiming exempt on W4 job to save
I'm trying to save up enough money to pay cash on my first brrrr property. I have been saving about a $1500 a week at my job but I'm also paying about $1300 in taxes each week. My thought is if I claim exempt on my ta...
Andy Nanneman
Previous primary residence rental. Renovations and taxes
I have a paid off home I have lived in since 2011. I recently moved to another residence. I would like to turn the older home into a rental property (if the numbers make sense). It is in an area that is experiencing c...
Mike K.
Unauthorized pets violation
Hello,
I own/occupy a duplex. Inherited upstairs tenants. Recently their dog died, i know this because i was the one who picked up the dog poop every week to cut the grass. They refused to take care of it. Now it sou...
Marc Cormier
Probate and Bankruptcy at the Same Time? One Debtor, Two Estates
When you accept the role of an executor or personal representative to someone close to you, you know the role will take time and patience. Yet perhaps the last thing you're considering is that the person you’ll repres...
Derek Bennetsen
Solo 401k -> LLC -> UBTI
New to the website. Great forum!I have a Solo401k Trust and am in the process of creating an LLC that is owned and operated by the Solo401k Trust. The LLC will be used to purchase real estate with funds from the Sol...