Zachary Schimenz
Do I need a Real Estate CPA and a different one for my business?
I own a small business, so I already have a tax guy. Now I'm buying real estate investments to rent out to tenants, and I've read that you really should get a CPA who specializes in Real Estate.How does this work? Do ...
Jordan Woolf
Too early for 1031 exchange?
I have owned one of my properties for almost 2 years. It has been rented for about 6 months. The tenants are asking to purchase the property.I would like to do a 1031 but I am not sure if this property would qualify. ...
Steven W.
Solo 401k and Buying Property
I had a great conversation with @Dmitriy Fomichenko from Sense Financial today about setting up a Solo 401k, so I can roll over my IRA into an account in which I can make investments in real estate. He did point out s...
Mary Jay
What is the proper way to
Can you guys help me out with this?I know that the rents deposited into my LLC bank account can not be just transferred into my personal bank account (Because if I do it then it pierces the corporate veil) 1) But what...
Marco Trimborn
FEIN needed for a LLC (for a buy and hold land deal) ?
Hi,
I am considering to buy a land deal in Nevada with other friends of mine and we are looking to set up a multi-member LLC in the state of Nevada for this. The LLC will only hold the vacant land for the moment and...
Kevin S.
Use up retirement account for REI or non-retirement account first?
Hello BP members,Have any of you been there and done that? Left the market, completely or partially, and had to choose between using funds from either accounts? Which did you choose to dip in first and why? Looking ...
John Doyle
I have one property (duplex) - do I need accounting software?
We have had our duplex for one year now, and aren't looking to acquire any more properties.Maybe this is a dumb question, but do I need accounting software (Quickbooks, etc.) or can I just do our taxes with Turbo Tax ...
Christopher Persaud
Quickbooks and Rehabbing
Hey guys,
I just closed on my first rehab today and I am looking to record all transactions made in relation to this property.
I heard that Quickbooks Pro is great for this purpose, so I am trying it ou...
Joel Lazar
Florida Sales & Use Tax
I am using Avalara to manage my sales & use tax certificates, Licenses, Returns and remittance besides what Airbnb remits. They do an okay job but it still involves more work from me then I have time for. Anyone h...
Carley C.
Finding Properties to buy through obtaining delinquint Tax deeds
Hi, ive been reading that it's a great place to find leads going through the delinquint tax deeds for a certain area. I have been looking at largo and orlando. It is so hard to find the delinquint tax deeds publishe...