Sergio D.
Capital Gains Tax - Short Term
I bought a property in 2015 and sold it as is with no improvements, no repairs, or depreciation charge taken. What are the tax implications with the sale? I'm probably going to get hit with a short term capital gains ...
Jason NA
Corporate setup for Rehab Flips and Income properties
Introduction and background on questions:
Currently we are a 2 man operation that is a 50/50 partnership. We will not have any additional partners in the future and we are not interested in selling part ownership of...
Christopher Colburn
Turning a property into an assisted living home.
Hi,My wife and I have been working on a plan to turn investment properties into assisted living homes in Colorado. She has been in this type of industry for a while as well as knows people that have turned properties ...
Danielle D.
Do I have to be taxed as an SCorp?
Hi All,My CPA is advising that I have my LLC be taxed as an SCorp because I'm an active participant in my fix and flips. To clarify, I have a multiple member LLC (me and my husband). In that LLC, I make some private...
Uwe S.
Depreciation of Real Estate
Don´t know if this the correct forum here, but I want to know how high can I get a tax depreciation for this year (2010) when I buy an house this month for only $5k for a fix and flip in May 2011?
Thanks.
-Uwe
Roger Laughary
S Corp Instead of LLC for Rentals?
I searched for detailed information regarding this before posting, but was hoping for some more distinct answers. I have 8 units right now in Kansas under one LLC and have a W-2 job. I also have several friends (some ...
Brady Tome
Multi-Family Deal Analyzer
Hello all,I am currently searching for my first multi-family investment property. I've been using the basic Google mortgage calculator, but I want to know if there are any other tools I can use to get a more detailed ...
Jerry Gandolph
Best way to handle taxes on Flip house
Hello,
Im closing on a property today that I intend to flip for a profit. I bought the house via forclosure for $115k, will put about $20k into it and will list it for $225k. Im curious what is the best way to approa...
Chad Clanton
Does the money invested in a still-owned flip from last year count as a tax loss?
It's my understanding from reading here on BP that flipping is taxed as income, not capital gains; as such, would the money from a flip I bought and started last year but which is still owned count as a loss for la...
Zubair Khan
method of payment
Hey everyone so I might be closing my first deal as an assignment so since its my first deal I really don't know what form of payment is best for me considering I'm young and don't have any tax deductions.