I am looking to buy a distressed property. I want to reduce the taxes before I buy it. Since it is only worth $50k when I buy it how can I get the taxes reduced based on this value in the most time efficient manner...
In 2021 I had overall negative AGI on my personal return due to losses on rental properties. I had no tax liability in 2022 and now here in 2023 I do. How/ where do I utilize that prior loss? Is it an NOL on Schedule ...
This year I sold a rental property with a capital gains of 60kI’m looking to reinvest in something that will reduce my tax liability. I get a lot of ads on my Facebook feed regarding investments that may do that looki...
Doing some year end math and I'm looking back across the last few years. On a SFH the second year the cash flow to taxable income on my sch E was .39. It jumped to .81 and .84 the next two years (if I did my quick cal...
Hi everyone,
Thank you in advance for the replies. I have been learning and listening about realestate investing for some time now and have questions about how real-estate can be used to reduce taxable income. Lets ...
Hi All,I understand that there are great tax benefits/write offs as it relates to the purchases you have made towards your rental property like depreciation, maintenance fees etc...My question is...Are there any tax b...
i thought 20% to LLC real estate was already included, but thanks anyway! it's odd that nobody on BP seems to really be talking about all of this?
Hi,I think I understand the difference between active and passive income. Passive income applies to most small landlords/owners as they collect rent from tenants. This also applies to investors who collect interest or...
Hello,I am exploring the possibility of converting some or all of my Rollover IRA account into ROTH IRA account to reduce my tax burden when I retire. I understand that this would be a taxable event and I would be req...
So admittedly I have some flexibility with how I file taxes since my income comes from my sole proprietorship (music teaching). I'm planning on stating around $25,000 in income this year (a lot for me) in order to hel...