Nadine S.
Unusual house flipping situation
Hi everyone! I made my first post just the other day and was so pleased by the quick and informative replies I figured I would try another one.
My husband and I have the opportunity to purchase a home at a very good...
Todd Willhoite
Electing tax status for LLC planning to buy land and resell some
Some partners and I are purchasing a large parcel of land. We will probably sell off some large parcels to pay down the debt on the remaining property and then hold some of the land indefinitely. Trying to figure ou...
Josh Smith
Schedule E (Passive losses) -> 1040 (personal income)?
Hi
I recently had my 2022 taxes prepared (not yet filed) from a firm and I noticed that they took line 26 of Schedule E “Total rental real estate and royalty income or (loss)”, which is say -$5,000 (notice the minus/...
Brandon Schlichter
LLC or S-Corp for Rentals?
I'm sure i'm beating a dead horse here, but i'm still very puzzled.
I have no issue with finding 60-70% ARV properties in my area (I'm a RE Agent) So, i REALLY want to buy some, as i can't find enough real investors ...
Melanie Baldridge
A quick mini guide on Bonus Depreciation
The tax benefits of bonus depreciation can lead to massive savings but losses won’t help one bit if you can’t use them.
Before you buy a cost seg, you need to know the rules:
Tax all starts with the types of income....
Cary Westerbeck
Build 3 townhomes, keep 1 for primary residence
Hi there, newbie here with a question I haven't found in my searches on BP. I'm an architect, developer, and general contractor. I own a small lot free and clear in the downtown of our small city just outside Seattle,...
Tracey Hamilton
Where to put expenses for efficient tax prep?
My husband and I have an LLC for our flip business, which is also a licensed general contractor business, in Oregon. I personally also have my Oregon real estate broker's license, which I obtained to help with the bu...
Brad Jacobson
The Tax and Legal Side of Renatus
Hi BP Network,I'm new to the RE world but have really caught the fire. I've started house hacking and I'm currently working on my first flip. I adore BP.Recently I was approached by a long-time Renatus member. He r...
Brian Walters
Can a BP upgrade be considered a business expense?
Can upgrading to a BP pro membership be considered a business expense being it grants access to tools to help find and analyze more properties? I would think it could be, just as any other tool purchased to make your...
Linda L.
Between ROI 12% or 8%
This is probably another " it depends" question.
If you can utilize your fund either on 12% note investing/private money on the 1st lien or 8% cash on cash return on rental property, what will you pick now?