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Monthly profit on first investment - What to do with it?
I purchased a home with cash last month. I did a little clean up and now renting it out. I'm generating a nice monthly profit after all insurance, fees, taxes, upkeep, etc. I'd like to save this profit and put it ...
Peter Schuyler
High Earned Income and putting money into Real Estate Business
If you have high earned income and can funnel some of the extra money into your passive real estate business to make repairs etc that supplements the passive cash flow, can you still write these expense of as business...
Robert Andres
Using IRA to defer taxable passive income.
I own one apartment which is netting about 7k per year income. I also am not able to itemize right now since I don't own my own primary residence. I do not have a lot of deductions in other areas. I'd like to postpone...
Jim Madden
Rental Losses to offset Taxes owed from IRA Withdrawal
I withdrew money from my IRA and it will be taxed as ordinary income. Can I use Rental property losses to offset the taxes owed from this withdrawal when I file my taxes?
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Do i have to pay income taxes as a wholesaler?
Hello, i am starting out in wholesaling and hoping to start my first deal soon and was wondering, do i need to pay income taxes on what i make?! Thanks
Ryan Wilson
Real Estate CPA Help- Tax strategy - What am I missing?
CPA question. I am going to make up some easy numbers for thought experiment for a tax strategy, in my head for the future, but thinking I am missing something. Business owner (Joe) sales a small business ( not rea...
Daniel Dietz
Does it ever make sense to go from ROTH to Traditional?
Hello All, I have been having good results with investing in buy-n-hold rentals using my ROTH SDIRA, SOLO401K and regular 'cash' investing. To me they each have their place when looking at goals; a combination of some...
David Nacco
Setting up an LLC as a real estate agent
Does anyone have any experience setting up an LLC for their real estate agent business? If so do you have any reasons why you would or would not do it again or why you chose not to in the first place? I am considering...
Michael Batshon
Living in California and looking to invest in Nevada
Hi,I am looking to purchase a couple rental properties in Nevada, living in California the taxes here are crazy and i want to pay as little as legally possible. If i bought a property in Nevada how would i go about pa...
Brandon Bruckman
Tax lien zero bids in IL
New to tax liens. I’m doing research in IL. I watched the Boone county auction and reviewed the results. I couldn’t figure out why many lots went for zero bid. My first guess was it’s likely they get the house but ...