Chris Wunder
Starting a New LLC and Tax Implications
I currently own a rental property in the Kansas City metro area and am in the process of transferring the deed to an LLC I have created. I am not sure how this will directly impact my personal taxes but would love to ...
Raymond Jolly
Tax Implication of refinancing and consolidating loans
Hi everyone,
I sincerely apologize if this question has been posted and addressed. I am in my first year of owning an investment property and so far everything has been great. When my wife and I purchased the prope...
Ben D.
Tax Implications of HELOC Against Rental Property
Hello BPers,
Earlier this year (May) I obtained a HELOC against a rental property that I owned free and clear. I then combined funds from that HELOC with some of my own cash to purchase another rental outright. Ha...
Tony K.
Tax implications for wholesalers, jv partners, etc?
Hey guys,
I had a question about how to account for end of the year taxes when dealing with partnerships/joint ventures. If the Purchase & Sale Agreement specifies that the parties involved would be the h...
Derek Bell
Capital gains tax implications on warehouse sell
I bought a 1.3 acre IWD parcel in 2018, built a 15k sf warehouse in 2019. I will be selling the property this year. Will I pay long term capital gains tax on the earnings or will I have to declare the earnings as inco...
Alan Phillips
Two separate LLCs? Tax and accounting implications
Good evening!
This is probably a question for a RE tax CPA, but I’m having a hard time finding a reputable one in my area.
We are just starting out trying to structure our rental and repair business(es?) properly. ...
Jacob Perez
Provincial Liens against Tax Sale Property - Implications??
I'm looking into buying a Tax sale property in Ontario. Trying to do all my due diligence before submitting a bid. I don't know anyone who's bid on one of these and have been networking in my circles and haven't been ...
Nik Divakaruni
Tax Implications for LLC Sale - Owner Financed
I've got a doozy here. If anyone has a good solution for this, I will be hugely grateful.My wife and I are currently the owner of an LLC with 30 doors across 6 properties. We've been approached by a buyer to purchas...
Robert Loiselle
tax implications of a gift of equity
Hello BP, My wife and I are buying a house from my wife's aunt and she's giving us a great deal. We're getting the house for 300k and it's most likely worth around 375k or possibly more. I'm starting to lean towards ...
Stephanie W.
Tax and legal implications of 5+ units
I have a six unit under contract. It is my first 5+ property. I have two duplexes and four single families and manage them all myself.Are there different landlord/tenant laws that only kick in once 'commercial propert...