Adama Bah
How to pay less tax with this situation?
Situation:1- W2 employee making $230000-$300000 a year. 2- owned 2 properties under personal name, 1 in LLCWhat are the best way to get tax benefits ?Renovated a house-hacked but because of the income, we could not de...
Jain P.
Buying investment property in cash, and then do refinance
Do we lose tax benefits when buying investment property in cash, and then doing refinance?Does the 90-day rule for refinance after cash-acquistion, apply for investment properties?Otherwise, does the cash investment b...
Rick Im
Tax deductions after refinaning a rental property
I have two questions regarding mortgage interest tax deductions.
First, last year, I purchased a HUD property at a significant discount and used a $70,000 HELOC from my primary residence for the down payment. I under...
Kyle Brinks
Advantages of starting a mgmt company to manage my own properties
I have been doing my taxes this year and I came to this realization, currently I only own investments that I self manage, not a property management business. Right now I own a LLC for holding assets and a separate LLC...
Indra Tanudjaja
SEP IRA contribution question
Hi, maybe this scenario was discussed before. i could use some advice from CPA/EA.my scenario: I opened SEP IRA years ago when i was self-employed.. and then i haven't been self-employed for the past 10 years.. so , ...
Jaden Ghylin
Flip Tax Strategies
I’ve got problem that I could use the communities advice on. I've completed one flip this year and about to do another and really want to get the tax situation under control since I'm in a high bracket already.
H...
Thomas C.
469(i) offset and calculating MAGI
I've searched the site (forum, blogs, etc.) but can't find a straightforward answer to my question. Does anyone have any experience calculating MAGI, specifically for determining 469(i) offset? My question is, do I s...
Fred Lutes
Question about solo 401k
Hi, I am planning to convert a 401k With a company I am no longer employed with to a solo401k. I am self employed (real estate agent) and intend to use the funds to purchase a single family home (or a duplex if it fal...
Walker Seid
Taxes
Lets say I rent a house out for $1200/month. My mortgage is $560. Expenses are (taxes $150, HOA $30, Ins $25) $205/month. Do I pay taxes on $1200 or just $435?
Daniel James
Colorado DR 1083
Hey guys,I am a new AZ resident selling a property in Colorado that qualifies for section 121 exclusion of the IRS code. The property was our primary residence from March 2010 to June of 2013. After that date, it was ...