Eric Tomlin
Tax owed when selling a rental home after a fire loss
Good day experts. I am trying to understand the tax laws and determine my tax liability for rental property that I have sold. The uniqueness of this transaction is in the fact that the property suffered a fire, and I...
Jeffrey Messee
Real estate license
I am wanting to invest in buy/hold and flipping. Would it be good idea to get a real estate license or waste of time and funds?
Amby Bhagtani
Offset W2 with depreciation
For people who are on a W2 what would be the best way to negate W2 income (including stocks?)? Is this possible with long term multi family real estate?
Account Closed
Tax Saving Strategies in Real Estate Investing
As an experienced real estate-oriented CPA with clients that invest in most real estate markets, I often get asked for strategies in saving money on taxes that apply to clients investing activities. Here are some key ...
Mikell Elliott
Tax Exemption for 1 year - Good or bad idea?
I currently work a full time job and plan to begin investing in real estate this year. A real estate investor from a certain real estate investment group (which charges $20,000 for a mentor lol) told me to go exempt f...
Ben Whittaker
My own trust as private lender to my LLC?
Hi all, will try to keep this as short as possible for everyone's benefit!I live in Australia and earn a good salary that has me into the 37% tax bracket.I invest in property in the US via an LLC, of which I am the on...
Jonathan Bryan
How to account for insurance claim proceeds
I had a fire in one of my properties, and I have received the check from my insurer to pay for the repairs. How do I account for these proceeds in my books? It's not really taxable income (if I use it for the repair...
Jay Matthew
Can a land flipper or homebuilder spend all profits on land to be held as inventory?
I'm new to business and seeking some clarity before consulting an advisor. Could a land flipping business or homebuilder (sole proprietor LLC) spend all profits on land to be held as inventory? Any and all advice is g...
Kevin Lewis
Avoiding capital gains tax
I took out some equity on one of my investment properties in 2015 and I am going to use it to put a down payment on another investment property in 2016. Can I do a 1031 exchange for this transaction and, if so, do I s...
Bryan Hancock
Is The Tax On Inflation Tax Really A Regressive Tax?
Bear With Me...And Please Forgive My Tax Maze Ignorance
My understanding is that the basis of investments is stepped up at the death of individuals who execute transactions in a tax-efficient manner. For instance, t...