J.P. Ventura
Should I Elect to be an Independent Contractor or an Employee?
I have the option of being hired as an employee or independent contractor. I am wondering if any local accountants or CPAs in the DC / DMV area (I live in DC) have any advice as to which I should choose. I am going to...
Bret Halsey
Different LLCs and structuring
Many of the lenders of investor loans I've been speaking to will mostly/only lend to a business such as an LLC. I've heard a couple investors talk about having an LLC for rentals, and one for flips. As someone who is ...
James Maradits
Tapping into Equity without income verification
I'm looking to utilize a portion of my $100k + in equity in my personal residence to use for acquisitions and short term holds. I formerly had a HELOC that I used to flip properties with, but I have since sold the ho...
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...
Eric Lee
Start with a self-directed IRA, later move to Solo-401k?
Hello,I have been reading up on self-directed IRA's and solo 401k's. I feel like I am starting to understand some of the details now, and have a tentative plan. I'm looking for any feedback/issues with it. Hopefully...
Thomasina Pearce
getting approved for conventional loan as contract worker
Hi BP family! Are there any investors whose primary source of income is 1099 or other contract work? If so, any tips on how to appear as stronger candidate for conventional loan? Especially if your income fluctuates m...
Kyle J. Cooper
Moving a Company 401(k) due to Coronavirus Layoff
So I'm sure I'm not the only one here that is curious about this topic, but here goes nothing! I'll make it short and (relatively)sweet!Coronavirus hit the world, no one was prepared.Companies started closing down.Pay...
Account Closed
Assets for teenagers
I have been reading books on real estate investing along with other business books. I'm currently half way through Rich dad Poor dad, and the talk of assets has baffled me.
Growing up my dad, being a business owner h...
Bryan Hancock
Beating The $52k Solo K Limit For Investors With Multiple Businesses
I am writing about this on BP because I just found out about it and there are bound to be some tax wizards on here that know about about the game theory needed to navigate our ridiculous tax code. I stumbled upon thi...
Yuxi Li
Renter screening for MTR
Hi all!
I’m looking to get started with renting out a house in SW Austin 4b2b fully furnished. My thought was to rent it as a mid term rental on Airbnb and vrbo etc because it’s in a desirable residential neighborhoo...