Brian Taylor
Purchased Foreclosed Home, has a Lis Pendens
I purchased this property fully aware it had a lis pendens on it from a hospital here in Maine, its still a great deal if i have to pay it but my understanding is that it is a pending lawsuit, the bank foreclosed on t...
Adrienn Lanczos
Why is Puerto Rico not in the listing drop down?
I’m a broker in Vieques, PR (zip code 00765) and while sitting in covid lockdown I thought, hey why don’t I start inputting my listings into Bigger Pockets. Lo and behold Puerto Rico is not a valid selection so I sent...
Travis Bill
Tax advice please
Background. I'm 23, work in the oilfield. I work rotationaly. 2 weeks on 1 week off. Making about 140k. Primary residence is currently where I rent in nd, I head back home out of state on days off. I recently bought m...
Jon Fletcher
Switch from W2 Employee to Consultant for Tax Savings
Does anyone have experience with asking their employer about switching from a W2 employee to a consultant so that you can take advantage of the Real Estate Professional status? If the employer pays your LLC S-Corp ins...
Oliver Betuel
Paying myself with rental property cashflow
Hi All,
Can anyone recommend reading material (BP articles etc) that covers how I can pay myself each month with my rental property cashflow? More specifically, how do I calculate what I need to set aside for taxes b...
Elizabeth Kinde
Complex disability situation - unsure of feasibility of investing
Firstly want to thank this community and forum, I've found myself being directed back to it a number of times as I've been digging around the internet for information. I realize my situation is a complex one, and I'l...
Clint Worland
capital gains tax on my short term flip?
Good Evening. I live in San Diego CA and i am about to sell my third flip this year.
My First two flips the FTB took a larg percentage from Escrow for cap gains. In reading thorugh some of the other posts its...
Account Closed
Am I thinking about the tax benefits of renting real estate correctly?
Question on rental income taxation:Thank you in advance if you can clarify if I am thinking about this right or not...-Assume I own a rental property in my LLC.-The property earns 2,000 in net rental income after payi...
Anna R.
Taxes on Flipped properties. Do I pay higher taxes?
If I am currently full time employed in Illinois and fit into the 28% Tax Bracket, what taxes do I pay for my flipped property? Am I still paying 15% of capital gains or do I pay 28% on capital gains due to my current...
John McAuley
FICA covered by W2, so does S Corp really buy me much?
Hey Everyone,I am mainly a buy and hold investor and have purchased our first 6 properties over the past 5 months. I had not intended to flip any but am now considering that given the huge equity we have in them. Th...