Larry Flanagan
Fringe benefits to reduce income taxes
I got a $65,000 income tax bill today. Is there any way my business can provide me with some deductible fringe benefits like a company car, health club membership, life insurance, etc?
Teresia Sayler
tax treatment for lease option income
What is the tax treatment for the different income streams from Lease Options? Is the Option fee self employment income (business income) when rec'd by a "future potential buyer"? Can the monthly income be "rental i...
David Chow
How to shelter income being taxed?
Hi. I'm new to the forum and would like to see if anyone has info on how to shelter income from being taxed? This is a hypothetical question since I have not started the purchase of a multi family unit yet. My tax guy...
Tim Walsh
Income tax shelter in primary home
I have been reading up on not having to pay tax on gains from a investment property if you use those gains to buy more property.
Is that still true if you take the gains and put them into paying down your primary h...
Rada Vassil
2014 and 2015 Income Tax Brackets
Here are the income tax brackets for 2014 and 2015 (from Bankrate). The same six tax rates still apply, but the income that falls into each in 2015 is adjusted for inflation.http://www.biggerpockets.com/blogs/5881/blo...
George P.
(income tax question) Active vs. Passive
My CPA advised that since I will be managing the rental myself, rental income qualifies as Active (=earned) income (vs. Passive).
Does that sound right?
Samuel Carmichael
4plex income ( do you pay taxes?)
Hi BP Team,
If I buy a 4plex and am using the rental income to pay down the mortgage. Do you pay tax on that income before you can use it?
Or can you put the full rent amounts you collect straight onto the mortgage...
Jim Huber
Income Tax on a rental home
I have a rental home with an old Girlfriend I know not smart !! I do not want to have any interest in this home and have decided to quit claim my interest in the home back to her.I am not on the Mortgage.My CPA infor...
Frank D'Amato
Passive income: tax liens vs rentals
I an a newish investor and new to BP. My question:
In looking to build passive income. . . why would I choose a rental over a tax lien? I'm here in Kentucky, and the interest return rate is 12%. Which is wha...
Ryan Lowe
Tax Strategies for High Income Professional
Hi - I am a new investor starting to invest in long term rental properties. I am a high income W-2 earner based in NYC. What tax strategies do folks recommend? This will be a passive investment.