Paul B.
Fund an IRA twice in one year?
I know that I am limited to placing $5,500 per year into an IRA. But it appears that I can still put money in and have it count for 2016 if I do it before the tax filing deadline, right? So can I open an IRA, max it o...
Jon S.
LLC declare as Partnership or S-Corp?
I have a new LLC. My prospective accountant has suggested that I declare it as an S-Corp. Would the income automatically pass through in an S-corp, to the members of the LLC? Is this good or bad, pros and cons? What a...
Amy Yarnall
Refi, putting equity in SDIRA, buying real estate & FAFSA
We own a rental with $100k in equity. It is worth $220 and provides $400 per month cash flow income after mortgage, expenses, etc.We are also preparing to pay for college costs starting in 2020. If we were to refinan...
Jared Ebert
Equity is a problem?
A couple random questions. I’m a complete beginner. I just listened to the podcast with “Swanny” who started with condos and upgraded to multi family through 1031 exchange. Several times he talks about how cash flo...
Pierre E.
STR tax loss - effect on 401k contributions from Depreciation
Could deducting real estate losses against your earned income affect the amount of income you can place into a 401k or Solo 401k? Example: if you claim REPS status or you use the STR active status to deduct a total of...
Shawn Crawley
Taxes
So I've heard wholesaling is treated like earned income for taxes. So whats the best method to keep records in order to be prepared (separate accounts) for next tax year? Is it any tricks to do to have this money trea...
David Holland
Baltimore city rental in S-corp or LLC
Can anyone explain why I would hold a rental in Baltimore City in a LLC as opposed to an S-corp? I was told at the local REIA not to use a S-corp. I'm paying cash for the property but may do cash out refi next year to...
TJ Sinn
Solo 401(k) for Real Estate Purchases
I am curious to see what everyone thinks about using a solo 401(k) to fund future deals? Right now I have one rental property and one residence. I am looking at using a solo 401(k) to invest into for tax savings - and...
Sterling Britt
Rent to Income ratio?
Is there a number you guys use for monthly rent to income ratio when evaluating prospective tenants? I was told gross income should be 2.7 times monthly rent.
David Zheng
Basic Self Employed Tax Questions
Hey Guys, I'm about to go the self employed route and need a little help with how do setup my personal income taxso tell me if I'm going about this right....Heres just a simple example1. 5k rental income- 2k expenses ...