I have a property in my personal name that I plan to rent annually.  I created an LLC to collect rent and manage any expenses related to the property.  My accountant told me that I needed to move the property into the...

Two questions for anyone willing to help a newbie.1) what is the point of a roth or traditional IRA if you can only add 5000 to it each year. I am 30 so that means I have 29.5 years I can add to it. If my math is corr...

Question #1: Upon the purchase of an investment property that you will be rehabbing, its understood that property taxes are to paid. But at what point? At closing? I'm also told that property taxes are a holding cost,...

Are you taxed on the money that you leave in the LLC's bank account? AKA the money that you don't draw out.

My wife and I have owned 1 rental property for the past 5 years. So far I've managed to keep good records and receipts for all transactions relating to the rental. I'm looking into the best method for me to keep the r...

I'm just starting out, about to close on my first deal. Wondering if it's necessary to have a professional to the accounting work as to not mess it up for tax reasons. Or is it manageable by the owner and not worth it...

Looking for referrals for a CPA in San Diego. I've searched similar posts and contact the folks responding to the post but so far no luck. I'm new to the investment and just sold and bought a property with a rental un...

I am a real estate agent in Washington Township, NJ (South Jersey) and I am starting to put together a team for my own real estate investments. I am purchasing my first vacation rental property in Brigantine, NJ at th...

Would it be risky to open and offshore LLC in order to pay less taxes on the profit made from flipping a house? Is that even possible? Please advice.

I am hoping to do my own taxes this year but got a little stuck as I was finalizing my books. I purchased a SFH in Oct. 2021 with owner financing that is still under renovation. I understand that any renovation expens...