Robert Burns
Prohibited Transactions in Self Directed IRA's
I need some input on self directed IRA's. If I bought a mobile home or other property with the IRA and collected the lease payments from a lease purchase agreement and paid the federal and state taxes would that cons...
Ari Bachrach
What sort of paperwork do I need to generate for a flip
I'm signing the papers to sell my first flip in a few hours. Despite everything going wrong that could have gone wrong, we're actually going to make money on the deal. (Wooo!) The flip was done in a multi member llc t...
Brie Schmidt
Too many loans? HELP
I own 3 properties in my personal name - I want to 1031 one of them into another investment property. The issue is I have 18 commercial loans to my LLC and I am 100% owner of the LLC so they are on my schedule E. My...
Phillip Rosin
Question on COC calculation standards
I've been following a lot of discussion groups on social media, as well as watched multiple videos / read articles, and have a question regarding COC calculations. I've been noticing that it doesn't always seem apples...
Dan Robinson
Tax implications of moving property into LLC
So it's pretty clear (to me at least) that I should be moving properties titled in my name into an LLC based on the recently passed tax bill. They have been in my name for several years now. Are there an implications ...
Kenny Rains
First Time Filing Taxes
I purchased my first property this year and I am researching how I should file taxes next year. My property is operated under my LLC and I use business banking accounts. Can anyone share their method for filing taxes?...
Mike Mitchell
Taxation of single member LLC
My accountant reported my interest income from my mortgage note portfolio as interest income with no schedule c. Could I lower my tax liability by reporting the interest in another way? This came up because I had an...
Ray Morris Jr.
I would like to setup a joint venture for a buy and hold property
Hello group,I have a deal that I would like to joint venture. My plan is to get 4 friends to split a $25k investment for a 50% interest in the LLC that we will use to hold the property. With this split of this renta...
Jack T.
Taking out home loan for investment property?
I'm buying an 14 unit apartment complex and in my past real estate purchases, I've used a HELOC for the loan portion, which I do deduct on my tax return. Can I do the same process, except take a 30 year mortgage out o...
Christian Valencia
Duplex Tax Loopholes
My wife and I are closing on an owner occupied duplex later this month - tenant is already in unit B. The home is in great shape, but bathroom and kitchen are outdated. We want to maximize deductions and are looking f...