Hank Olken
Ethics Around Reducing Tax Liability
Hi all, as I've been getting more into real estate investing, it's become quite clear that the US tax code favors business owners and real estate investors rather than W2 employees or self-employed business owners. On...
Bob Malecki
Federal Tax Lien Liability Question
I'm looking to purchase a re performing note on a SFR in Florida. O&E shows federal tax liens on husband/borrower for over $170K. The BPO value on the property is around $60K. There are no other liens on the prop...
Hudson Doyle
Unexpected Paper Profit Tax Liability
I bought a 2 family the end of 2012 and have now completed my first year as a landlord. My accountant recently provided me with my Schedule E tax return for 2013 and I was surprised to see that my taxable income i...
Sue Jing
Tax liability -urgent question- thanks!
I am currently doing 1031 exchange, and looks like we won't be able to close one of the properties we exchanged. The 180days closing deadline is next week. It's a long story, how we get to this point. My question is,...
Rao V.
Tax liability from rental income
Hi,What will be the approximate tax liability if I have the following situation?1- Rental income from house #1 = $12,000 Mortgage paid = $90002- Rental income from house #2 = $4000 Mortgage paid = $3000Assume I ...
Frank W Lentine
Cash flow with not tax liability
Just had an offer accepted on a 4 plex in Phoenix, AZ. I work full time for a W-2. Using the rental property worksheet this property has some good cash flow. How do I get that cash without paying any income tax? Or...
Dell J.
tax auction, mortgages, liens and liabilities
I am looking ino purshasing at the tax auction. However on the state website under terms of sale section there is the statement below.
Im trying to figure out what they mean. is it saying that the purchaser is not...
Xavier Garcia
Seller tax liability on assumable mortgage
I've heard conflicting stories as to what liability the seller has in a assumable mortgage. I've heard that because the seller is relieving a debt that the IRS would see that as income for the seller. I've heard this...
Will Rodgers
Contractor or Good Handyman tax liability
HI All,Alright, I have read J Scott's book and am aware that you want to hire someone who is licensed and insured etc to do my labor for a flip... But I know someone who is really good at rehabbing but is not licensed...
Phil Hucke
Tax liabilities on the first “R”
Question on my new business for tax time: earlier this year I both formed an llc (sole) and through the business purchased a distressed property for cash. I obtained a loan for the rehab costs. This is a full gut re...