Kyle R.
Tax Savings Comparable to Income
Hi BP
I am running through some scenarios for a first rental property which will be out of state using a PM.
The scenarios range from a couple hundred cash flow positive per month to a break even per month. I have ...
Account Closed
Save the 1031 Tax Exchange!
Everyone must write a letter to their congress and senate representatives regarding keeping the 1031 exchange. This may cause some folks go into debt with the IRS and may even cause bankruptcy for some. Please don't...
Rick D.
Tax Savings from Rental Properties
I realize a real estate investor “makes money” in four basic ways. Cash Flow,Appreciation,Principal Reduction, and Tax Savings.In order to properly estimate my returns I need to assign a dollar value to each of these....
Nathan Gesner
Hiring children for tax savings
I'm just learning about hiring my children and the tax benefits. I think I understand how to do it, but am confused on one point. I'm reading online that we can hire a child up to the age of 22 but my CPA said 18. Can...
Jon Fletcher
Augusta Rule - Tax Savings Secret
Today I discovered the Augusta Rule. This is how it works: If you're a business owner and you use your home to host business clients or business meetings, you can charge your business for the use of your personal home...
Mohamed Manfalouti
Save property taxes via taxproper.com
Sounds like a great idea: https://taxproper.com/
Has anybody tried them out?
Kyle Meyers
Tax Savings on Historical Property
I read that there are tax incentives of some kind for historical properties which includes any property built before 1930. I have just finished a rehab on a duplex built in 1910 and I was trying to find what kind of t...
Roy Mitle
Combing llc to save taxes.
I have a business that is run as llc. I have a rental that has negative income. If I put my rental into my business llc can I lower my taxes by offsetting my business income with my rental loss. Also I heard that with...
Robert Shoffner
Save Taxes on Large Windfall
I have a good problem on my hands. I am about to close on my rehab that took about 6 months from buy closing to sell closing. I also expect to do very well and receive a big, one-time windfall of cash.
I am...
Patrick J.
Are tax savings based on effective tax rate??
Are tax savings based on effective tax rate or the highest income bracket you're in?? For example, let's say you take a $5,000 business loss and your highest tax bracket is 32%, are the savings based on 32% or reduced...