Brian Hunsaker
Wondering how to minimize taxes owed to IRS from rental properties
We have 3 rentals, and Turbotax says we made about $27k off the 3 combined last year, so I ended up having to pay the IRS $8k. Currently the tenants pay us directly to our bank accounts. Would we owe less if we set up...
Samantha Klein
Tenant says there is very minimal hot water in upstairs unit
I have an upstairs unit in a duplex and my tenant just texted and said there is no hot water, she said it gets slightly warm but that's it, there is a separate water heater under the cabinet in the kitchen next to the...
Joseph Tipa
How to minimize unforeseen forclosures prior to closing on a deal
Hello BP. I bought a house and prior to closing on the deal, my agent said the ARV will be XXX. I closed on the deal and started the rehab. Well unfortunately during the rehab we had some foreclosures that popped up f...
Julie Muse
Quick Flip Success on Pala Mesa Drive: Minimal Investment, Maximum Return!
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $185,000
Cash invested: $500
Sale price: $234,000
Contributors:
Peter Vekselman
Partner Driven,...
Erik Kubec
Solo 401k, LLC taxed as a sole prop, tax minimization strategy
Hey folks,Any thoughts on the efficacy of this strategy?:We own several SFD rental properties held in our names. We file jointly a 1040.I have a single member LLC taxed as a sole prop. This LLC holds another propert...
Managing tenants can be a real pain.
Trust me.
However, on this episode of the BiggerPockets Podcast we sit down with a full time property manager to talk about the business of managing tenants - and discover wa...
Charles Wesley
Selling RE - how can I minimize tax burden? something like a 1031
This is my first post folks so I hope I'm in the right place. I sure do appreciate hearing other perspectives from all the creative minds on this forum so thank you in advance!I have a vacant parcel of commercial lan...
Justin Michael Johnson
How do I minimize my losses and return a NEW, FINANCED CAR
I have been heavily educating myself and have now started down my road to Financial Freedom. What is the best way to take minimal losses on a brand new 2018 vehicle? I realize now, that I made a huge mistake buying ne...
Stanley Gray
How to minimize taxes from sale of land held by family members
My dad (50%) and I (50%) own land in FL
that has an offer on it. We want to share the proceeds three ways with the 2 other siblings, dad doesn't want any money out of it. My wife and I make about $220K and $180K adju...