Kyle Nacci
Is it worth it to file a loss of rental income claim?
My wife and I own a multifamily and submitted a claim to our insurance company (Vermont Mutual) for a roof leak in May of last year. We've experienced frustrating delays throughout this entire process, and while we've...
Jeff Nichols
Can I file electronically if my employer had to correct a W?
Earlier in the year my employer submitted my information for my w2 but it had an error on it. By the time it was noticed we were in the middle of the Covid crisis and the IRS was backed up. Because of that my employ...
Chase Hoover
S-Corp - Should I pay wife separate salary if we file jointly?
My business is an S-Corp. My wife recently quit her job and joined my business full-time. We are married filing jointly. Currently my payroll is set up where we each receive a (very modest) salary. Are we over-com...
Tracy Chen
Raising rents back to the ones filed to the rent-control board?
Im looking at a 3 family property in NJ for which the seller had given heavy discounts last year at the height of the pandemic.
He never filed these rents to the rent control board. When the lease renewals come, can...
Earl Stewart Jr
S-corp tax filing for uber and flipping house(3 years held)
I have a single member LLC that is taxed as a S-Corp in which I flip homes and drive for Uber. I purchased a property in 2017 and finally sold it in 2020. I sold it for less than what I bought it for. I have filed the...
Oscar Barros
1 month to find a property to file for a 1031 exchange
Hey, I’m looking for some advice and some realistic expectations if I could find a property within a month to file for a 1031 and if it’s worth the risk or just bite the bullet and pay the taxes. Im also looking in th...
Bob Fullwood
Section 121 Exclusion - Do I need to fill out or file paperwork?
This past June I completed a house hack fix and flip which was my first deal. I owned and lived in the property for 4 years - rehabbing along the way, and then sold for a gain less than $250,000. Not sure that this ...
Ryan Keenan
How to file income property's in tax season to benefit the inves
hi bp,In regards to your schedule e and filing your taxes is there a special way file income properties in a way that will help you buy more? I've been fishing around and trying to see about getting a fha loan in a fe...
Account Closed
Filing as an S Corp if property is under my name personally?
Been filing both an 1120s and a personal tax return the last two years. Now I'm thinking I should just do a personal return only, since my building is under my name personally? Any thoughts?
Warren Mitchell
File LLC in state of residence or state of short term rental?
Happy Holidays Everyone,We are excited to be purchasing our first investment property. It is a short-term rental in Windsor Hills, Kissimmee, Florida. We would like to file an LLC. What are the pros and cons of fil...