Ross Ellington
Understanding Depreciation Tax
Hey everyone, hope all is well with you! I just want to make sure I'm getting the depreciation tax write off correct. Let me give an example to see if I got this right. If I have a property worth $300,000 and land is ...
Big Nater
Retirement
Hey my employer doesnt offer any retirement plan but i want to start one. What do you suggest? 401k, IRA or what?
Daniel Black
Advice on Capital Gains Tax
Hi everyone,
I am very new to real estate, in fact, I haven't even begun yet. I have been a BiggerPockets fan for years! I listen to the podcast and attend the weekly webinars in order to learn as much as possible.
...
Kyle Has
Capital Gains on primary residence turned rental
Hi BP Community,I’m sorry to do this but I’ve been looking for days and can’t seem to decipher all the information I’ve read correctly. I’m trying to determine my tax liability on the sale of a former primary residenc...
Ben Cochran
Help! I just got blown away by my tax bill
Last year I had to sell half of a duplex. I met with my CPA, discussed the details and they estimated the taxes owed would be in the neighborhood of $10k. I just got my returns back and I ended up owning over $30k. My...
Scott Johnson
Break Even Formula Validity?
Hey, everyone! I learned about a formula today that I'm trying to wrap my head around. It calculates the percentage return one would need in order to confirm an investment is "moving ahead" as opposed to tracking behi...
Micah Epps
How are elements of BRR taxed?
Let's say my wife an I are general managers of an LLC who buys a single family home. The contract price is 100,000. We put 20,000$ of materials and labor into it. We then rent it out for 12 months and cash flow 10,...
Willie Holdman
What are the rules in paying no capitol gains tax for income below 41,675?
In 2022 I sold my home I lived in for over 2 years. I used half the home for business. I took the 250,000 deduction, and used the remaining profits on the home to do a 1031 exchange. I overlooked that I still owed a m...
Scott McMillan
New Trump Administration and Taxes
Hey all, with all the talk about President Elect Trump's plans to overhaul the tax code it got me thinking.Trump wants to lower or consolidate the tax rates into 3 tax rates. Personally I would most likely be moving ...
Art Webb
Roth Conversion Calculator
I’m interested in obtaining a Roth Conversion Calculator that would analyze pros and cons of a Roth conversion vs keeping IRA. Calculator should provide amount of conversion tax payments needed, one or multiple conv...