I spoke to a company that works with my CPA that has offered to create me an irrevocable trust in order to reduce my passive income tax liability to zero, reduce my active income (real estate commission) to nearly not...
I am looking for a good recommendation for a CPA who is very knowledgeable in real estate investing. I'm not very satisfied with the CPA I currently use. I would like someone who knows our area of the tax code and w...
Thanks to a lot of great information here, my wife and I have grown our RE portfolio to a point where it probably doesn’t make sense for me to be using TurboTax anymore. We both have high paying W2 jobs and our tax li...
I thought I would throw this out there as I didn't see it addressed in any of the archives. The Grantor of a property is asking me what, if any tax consequence, would occur if she transfers the deed to me via a quitc...
Hey everyone,
House hacker here looking for some legal direction with taxes.
I live in one of two small multi family properties that I own. I get a veterans tax exemption on my homestead. I would like to group bot...
As a real estate investor it is important to choose a business structure that gives you the maximum asset protection as well as the best tax advantages. Although I can't advise you as to what type of entity you should...
Quick question - if the property in auction has lets say three mortgages open - and only one plaintiff is running in the auction - what happens to the other two loans?1 - Does the plaintiff add up three total loans - ...
Hello everyone, I am trying to flip 2 houses this year, buying with hard money loan, completely renovating/rebuilding and selling it. My question for bigger pocket community is . What entity be best for this purpose,...
Hello,
I am a beginner investor. Me and my business partner purchased a SFH in Tampa, FL using a Joint Venture agreement. The original plan was to flip. Now after some additional research we decided to keep the prop...
I currently own 4 duplexes and 1 sfh as a sole proprietor. I’m wondering what the tax implications are if any for adding all under an sCorp. Is it worth it?
Thank you,
Garrett