Kristina Inglis
No access to tax returns until under contract??
Hi all, This really shocked me but have been told this is very 'normal'. I'm interested in a multifamily property in Norfolk VA but need a bit more information to do my due diligence and complete at least a reasonabl...
Michael Filipidis
Do I file Sales and Use Tax Returns
I have a LLC partnership in North Carolina and I am wondering do I need to file Sales tax and use tax for my rental properties? Thanks guys for the help.
Timothy W Hanson
Will rental investments increase my W2 tax return?
Hello Bigger Pockets!
I will be closing on my first investment property next week, it is a 4-plex that will cash flow about $700 per month after all expenses including tax escrow, (etc. even including mowing service...
Aman A.
LLC in which state and tax return complications
Hello everyone,I live in Washington state and have a few rental properties in Alabama. I want to open a LLC for any future buy and hold deals and keep the properties in an LLC. The LLC will be owned by myself and my w...
Mike Steffen
Passive Investor - How to report on tax return?
One of my friend has business of flipping houses. He offered me to invest in his business on profit sharing. I will be just an investor and will get my money back with profit once he sells property after fixing it. Ho...
David de Luna
Listing Properties not yet sold on tax return
I have been told by a number of CPAs that it's fine to go either way whether to list properties I purchased and have invested/rehabbing them, but have not yet sold in 2019 tax year. Either list them under inventory on...
Michael Plaks
Amended tax returns come with IRS audit risk
"Filing a large claim for a refund on an amended return will almost always cause an audit," according to a former IRS attorney. https://www.taxprotoday.com/news/raise-your-hand-if-you-want-your-taxes-auditedThis is so...
Danny Ondik
How to maximize tax returns for rental properties?
Hello All,This is my first year owning rental properties and was fortunate to buy 2 small properties. What should I be doing throughout the year to best maximize my tax returns each year? Any tips, advice, things to k...
Shawn-Karisa Shaffer
Can your Tax Return limit your borrowing power?
Hey BP community...I'm fairly new to the site, but been part-time investing for a few years. I have always done my taxes on my own (via TurboTax), and never seemed to be a problem. I admit I am not an accountant, but ...
Charlie Flowers
Discrepancies in deceased dad’s tax returns/ estate reporting
my dad passed away a few months ago. I have been collecting rent on 2 legal units and 1 illegal unit in a 3 family home. The rent is paid in cash there are no leases. My dad and i resided in the first floor apartment....