Mary Jay
Can a fishy accountant get you in trouble with the IRS? And how to prevent it?
Hi guys,I have a question for you:I have an acquaintance who went to jail for tax fraud. He says another big business came to town and wanted to buy him out, but he refused. So that business sent a couple of accountan...
David Morgan
Self-directed Roth 401(k) questions
I have a few questions about investing in real estate with a Roth 401(k):
1.) If at age 45 I buy a vacation rental, and at age 59.5 I want to start using it for family vacations, would I first need to distribute the ...
David Miracle
Bookkeeping and LLC's: What is your experience?
Hello! I am new here, but not necessary that new in real estate. A few years back my wife and I borrowed money from our equity (HELOC) to purchase another home. We moved into that new home to fix and flip. Now we ...
Joe Candelaria
Best Account to Keep Capital
Happy Tuesday all! My question is, what is the best account to keep the capital we will be using for our real estate deals? Here is the situation, the main investor in our investment group is moving funds from a ret...
Kyle B.
Using 401k to purchase real estate
I recently left my job where I had a roth 401k (so my contributions were made after tax). Does anyone know if I am able to roll this account over into some kind of self-directed IRA where I can use the funds for re...
Andrew Grant
First Tax season House Hack
Long time lurker first time poster!I will be filing this season for the first time being a home owner and house hacker.I would like to work with a tax professional who has experience with this strategy.Tell me why I s...
John T.
QuickBooks - Using the “Cost of Goods Sold” account type
I am a landlord who manages my own rental property. I do not manage property for other owners. I set up my chart of accounts in QuickBooks to include, among others, two types of accounts: (1) Cost of Goods Sold acc...
Mehgan Moore
What makes a good Book keeper / CPA ?
My husband and I are looking for a good book keeper/ CPA but are not really sure what to be asking while interviewing them. Does any one know of a good one in the Phx Az area? What is the average cost of this service?...
Ori Skloot
How Much Do You Pay your CPA for Tax Preparation?
Hi Folks,How much did YOU pay your CPA for tax preparation and filing 2016 taxes?I just got my bill from my CPA for preparing my 2016 taxes - $4,200. Feels steep to me. I am filing in California and I bought one n...
Claude Hodge
Start-up capital deduction?
Hey everyone! Been a while since I was on. I want to know what to expect come tax time. I started my L.L.C., and have a business checking account for it. For the entire year of 2009, I have been and will continue ...