Michael Dunn
Rental Income + Taxes + How will this come out on taxes ?
Rental Income + Taxes + How will this come out on taxes ?I need some help and confirmation please, given as how have the year is now over and 2017 Tax season isn't all that far away . This year will be the first year ...
Kumar Gaurav
Living in NJ remote work in CA pay tax in both states?
Hello,My employer is in CA and I worked remotely from NJ in 2020 , I also own a multifamily in NJ and earned rental income in NJ. Do I owe taxes in both states even though I did not live in CA?Thanks
Ronald Perich
Continuing to learn about rentals - taxes?
So I have been around BP for about a month now. Every day I learn something new, but I don't get to post a lot because I usually look at the site on my Android device. Unfortunately, it doesn't work so well with BP fo...
Alexander Timberlake
Solo 401K Questions for REI
Can someone explain the details of a solo 401k? Points I am curious about:-Can you have a Solo 401k and a corporate 401k if you are still employeed?-Is the Solo 401k the same thing as a self directed IRA? (except for ...
Noel R.
What are the tax benefits of seller financing as the seller?
I have the inside track on a property which is owned free and clear and the owner stands to make a huge profit. 500K+ With seller financing can he delay or minimize his capital gains? Any good books where I can find ...
David Howarth
Negative Cash Flow
If a property has negative cash flow at the end of the year do you get a deduction on your income taxes that are owed?
Say if you earned $30k from your job and you owe $1000 in income taxes but your property had a ne...
Rich Weese
3.8% tax on future real estate sales!!!!
There is a provision for a 3.8% tax on real estate sold beginning in a couple years as part of health care bill! I did try to verify with snopes. It was confusing and only discussed in terms of owner occupied sale. Di...
Bryan Sturman
Is it worth creating an LLC just for wholesaling?
I'm not sure if it would be more beneficial to keep all money earned from wholesaling properties separate from my income from my everyday job. Just looking for some advice on what the better play is with that.
Luke J Nelsen
Is a 23% Effective Tax Rate Too High?
Hey BP Fam,
I just got off the phone with my CPA and it sound like me and my wife's effective tax rate will be upwards of 23%!! When I first started in real estate last, everyone made it sound like an incredible tax ...
Sam Williams
Taxes on wholesale while working a day job
When you're part time wholesaling while working a day job how do you handle your taxes? Do you set aside 35% from wholesaling then pay quarterly? Then do you change the way you file taxes on your day job? Sam Williams