Hello,I was reading up on the requirements to submit tax returns and pay income taxes in Ohio.  I've read the CAT is not required if the business has gross receipts under $150k.  My rental income is way below that, bu...

Hi folks - newer to BP but a young striving REI, I’m looking into an option for capital to start my REI journey. bottom line: grandma moved into senior facility. My dad and his brother are looking to sell her home.sit...

This post is meant for my accounting colleagues - an invitation to debate, basically.Let's consider scenarios.1. (clear) You buy a rental with a $100k loan. Two years later, you refi into a new $100k loan with better ...

My wife and I are partners in an LLC that just sold a flip. The expenses were paid from the LLC account for the 14 months I worked on the house. The house was in my name, not the LLC, so the settlement proceeds had to...

I have some questions regarding the purchase of a personal residence, potentially via an LLC (state of CA). The following describes the scenario and goals (which are somewhat unique). The names and amounts are fiction...

I purchased a rental property (duplex) over 3 years ago and completed renovations almost 2.5 years ago. The purchase and repairs were all paid with cash. If I finance (cash out) the property now, will I be able to ...

Hello, I’m in process of selling my fix-flip property and I wonder what is the best way to receive the sale proceeds. I used personal and business credit cards for part of the materials. Does it make a difference if I...

Hello, good people.

My name's Nathan and i'm new here.

I was sent on a task from my father to find some tax answers.

Basically, my mom and her family own some land out in Lubbock, Texas. It is insured, and since t...

Hi,Could someone share any IRS experience or their stance on tax deductions changes that went into effect after 2017?Question, can i use HELOC from primary residence to buy land somewhere else and be able to deduct in...

Ok so my question is, as real estate investors, do we actually need a business license to buy and sell houses via our registered entities/companies? When I first opened my business (about three years ago) I went to my...