Tyler Speelman
2nd home and STR income tax
Hey BP,Purchasing a 2nd home with 2nd home mortgage, but using the home as a STR. 1. Can I use depreciation of the home to offset rental income gains? 2.How do I take advantage of tax deductions if purchased as a 2nd ...
Jose Contreras
Tax benefits from RE investing in high income earners.
Hello everyone,We recently started investing in real estate in 2020. We are buy and hold investors and currently have 2 doubles in the cleveland area. We got into investing for it's wealth building annd tax benefits. ...
Vlad Gurovich
Can I rollover my old 401k into my spouses Solo 401k
Hi folks!I have been reading a lot about solo 401k this week and I have a question that I haven’t been able to find an answer to l:My wife is self-employed with significant taxable income and is eligible to open a sol...
Bradley Pitts
Rental Business: Active vs Passive Income
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...
Linda L.
Solo 401K as Sole Proprietor
For a sole proprietor business with net income around $50-60K, if I like to include one family member(brother) in my solo 401K, what will be best structure to be cost effective and tax efficient?
To form a pa...
Juan Wulff
Solo 401k setup... do I need 2 LLC's?
Hi! My wife and I are starting a business in Real Estate. We are setting up a Solo-401k with an LLC for investment-protection and checkbook control. My wife has a 401k account from her previous job, we are in the peri...
THU NGUYEN
Real Estate Professional Status and Loss from Syndication-Passive
Hi All,I am claiming RE professional in 2019. I'm active in managing all my rentals, my flips etc...However, I have a passive loss from a K1 issued by the syndication deal where I am set up a limited partnership. Ca...
Megan Stone
REPS qualification questions
Im trying to breakdown some minor details of what exactly qualifies for REPS hours. I've received mixed answers1) 500 hour material participation--- Does travel to and from the property count? We live out of state and...
Adam Shindler
Passive vs. Active Income
My goal is to build a buy-and-hold portfolio to earn $5,000 a month in passive income, but I have learned today that passive and active income are gray areas. Can someone please help me understand the difference betw...
Michael Plaks
Explained: RE Professional & K-1 syndications
Before we start... This post focuses on one highly technical issue related to syndicated investments: taking K-1 losses while being a Real Estate professional. I recommend you first read my earlier post on the overal...