Alex Lee
Real estate professional status to offset federal and state taxes
Hello,First post in this forum. I am looking into becoming a real estate professional to grow my portfolio long-term and to reduce my earned income tax %. Would becoming a REP and materially participating in rentals r...
Wei Jie Chin
Can H4 qualify for real estate professional?
Hi all,
I am on a H1b visa W2 income. Spouse H4 visa no EAD stay- home-mum. We have been working together in acquiring investment properties. Can she qualify as a real estate professional under IRS rule to reduce tax...
Arty Fresh
Two questions on reducing taxes
So today I stumble upon something new that you the reader of this post probably learned years ago. I burn some time on YouTube watching videos on paying less taxes.One popular real estate youtuber grant Cardone says d...
Andrew Thomas Vedder
Tax deductions for real estate
Hi BP,I’m struggling to calculate the potential tax benefits for owning a real estate investment property. My research has shown that the following are the greatest available rental investment property tax write offs:...
Edward Mccracken
Loan on 403B / 401k
Through my employer I have a 403B. I don't have the much money in there. I'm probably going to be paying a decent amount in taxes this year, I made a lot more than last year. What I was thinking was putting in a lo...
Matt Cloutier
1099 Business Partner
Hi- I own an SFR investment property that a family member helped me rehab. I own the property in my name. Question - can I 1099 my family member for helping me rehab the property and increase my cost basis and reduc...
Gp G.
tax strategy active loss vs passive loss
My tax consultant says if I do an active loss type of tax return I get more return but I lose on capital gain tax if I decide to sell these rental properties in future. But if I do a passive loss type of tax return ...
Greg Tom
Best Tax Advantages for REI with low 6 figure income?
Hello,Wanted advice from BP. I am a big reader over at various 'retire early' sites (Money Mustache, etc.), and have a decently high savings rate after tax. I am trying to maximize my tax savings through real estate...
Andy Hughes
Tax Write Offs On a Flip
For those of you in the flipping business. Can I pay myself for work done on a flip? I am looking for tax write offs to help reduce capital gains for profits made on a flip purchased in late 2016- and sold in early ...
Don Pham
Recently Self-Employed: What income do lenders look at
Hello!TL:DR What income do loan officers look at? Total, Adjusted Gross, or Taxable Income?More in-depth: Should I file as sole-proprietor and reduce my tax liability by reducing my adjusted gross income (pays more SE...