Chad Thompson
Is purchasing land or rental homes a tax deduction on LLc
Hello,
When purchasing land or rental properties can this be a deduction ? My LLc is primary over our retail business and we were hit hard with owing quiet a bit of taxes around the sum of 48,500.00 for 2019. I’m tr...
Spencer Dixon
Creative Deal making
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $425,000
Cash invested: $5,000
Helped my past client out of a difficult situation.
They needed to sell after just ...
Tzvi Nussbaum
Excess Business Interest Expense 163(j)
I recently reviewed my tax return for 2018 prepared by my CPA and noticed that the amount deducted this year for depreciation was significantly less than years prior. He used the Excess Business Interest Expense form...
Pixel Rogue
Building a tax advantaged retirement plan...best ways to invest extra funds...
Building a tax advantaged retirement plan...best ways to invest extra funds + smart exit strategy from rentals.. We may decide to return early...We are looking to build a retirement that minimizes tax obligation, lowe...
Christopher Winkler
Insurance On A Second Lien?
When we invest in a senior lien, we always get some sort of forced place insurance if vacant, or until we can get on the homeowners policy. One thing we have not done since adding junior liens to the mix is put insura...
Doug Effinger
How does syndication depreciation work.
As an owner of a couple of duplexes I have benefitted from depreciation over the past 20 years. I am now looking to move into passive investing and still want the benefits of depreciation to lower my taxable income (i...
Lance Anderson
Bank sees Carryover losses seen as liability in refinancing
Currently have 3 rentals carrying legit losses on my tax return for a number of years now. I understand that this will be useful when I sell, in order to reduce my capital gains tax. It also reduces my AGI from my 9-5...
Corey Dutton
Will More Real Estate Inventory Hit the Street After the Elections?
Despite reports that several of the large banks will be releasing a new wave of inventory, we all wonder what is really happening behind the scenes. Our most active real estate investors have been sending fewer and fe...
Walchli Donna
How to report income on hard money bridge loan repaid to me?
Q1: How do I report the interest passive repayment interest income from a hard money-bridge loan I made to a flipper?
Q2: How do I report the profit and expenses from the sale of a flip?
Daniel Baker
Questions to ask.
Hi everyone! Looking to hire a professional to help with my taxes this year, i've always done them myself but fear I'm leaving money on the table. I have a w-2 income and own three properties, all long term rentals, t...