Lesley Cabrera
Need guidance afraid of being taken advantage of and would like some input
So I have a commercial property that my parents gave me control of a couple years ago. After much headache and of learning what and how to do things I have decided to sell the property. There is not much owed on the p...
John Canchola
Partnership, S-Corp or C-Corp LLC? for passive cash flow?
Hi GuysMy dad and I are 50/50 Managing Members of an LLC (filed as "Partnership"). He is 62 and I'm 42. A couple of years ago we just paid-off our bank loan, reduced our operating expenses to a bare minimum and are r...
Cynthia Miller
Do you use LLC's for your rentals? pros and cons?
Do you recommend forming and LLC for each property separately? Is it worth the cost? Also, am I correct if an LLC is registered in a state that has no state income tax I won't have to pay income tax on the rental inco...
Jason Powell
Pay capital gains and depreciation recapture in 2 sta
If a person who lives in a state with state income tax invests in property, either directly or via passive syndication, in another state that also has state income tax, must that person pay BOTH state income taxes on:...
Bryan Hancock
Is The Tax On Inflation Tax Really A Regressive Tax?
Bear With Me...And Please Forgive My Tax Maze Ignorance
My understanding is that the basis of investments is stepped up at the death of individuals who execute transactions in a tax-efficient manner. For instance, t...
Steve Watson
Profit from financing Mobile Home Sales in Rented Park
If I buy 10 mobile homes (no land) in Mobile Home rented Parks & rehab for a total of $5k. Then I sell them a month later for $20k and finance to the new buyer for 60 months. I do this in tax year 2018, what is th...
Raul Cesar cortes
defaulting on 401k loan
i currently have a 401k loan that i used to purchase 2 fourplexes that i have renovated and increased rent roll by 30%. i have a ton of losses this year and was contemplating defaulting on loan and hope to avoid payin...
Lior Golan
Talking to seller after purchase about SQFT
Hey,I just bought a property that in tax records it says 1,611 but when measuring it now it’s apparently 1300 SqFt. I didn’t use appraisal buying this one... I know, I had to do it in order to avoid these things.Is th...
Daniel Sharp
SqFt Wrong on Tax Record
Quick 2-part question, here’s the situation:Owner has a house built in 1986. Has an addition done to the house in 1997, which increases the SqFt of the property. The owner is told by the contractor that he will take...
Andrea Kendall
In search of CPA referral
Anyone want to share their CPA? I am looking for someone who is good with investors (duh!), multi-state, and with COVID is 100% e-mail/e-file.