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...
Abdul Aziz Tambadou
High Property Taxes in Detroit 48228 - Seeking Veteran Investor Advice
Hello Fellow Investors,
I have a concerning situation with my Detroit property (48228) and could use some guidance from experienced local investors. Here are the details:
- Property value: $70K
- Square footage: ...
Ivett Soti
How to calculate tax implications when investing in real estate?
Hi,My husband and I are trying to purchase rental real estate properties. We are just learning about it, but our plan is to buy a few of these properties (ranges between $80k - $150k) in the next couple of years and e...
Jack B.
Buying more rentals in eviction moratorium environment?
I am cash out refinancing 4 rentals to buy 4 more rental houses. I have cash on hand to do it, but figured I'd reduce my taxable income and avoid putting fresh money that is not subject to RE capital gains taxes into ...
Cliff R.
Wholesale using LLC - Advice...
Good Morning, I'm a part time Realtor trying to get into wholesaling (I have another full time job). I have my first property under contract, and have a buyer for it. I created a quick llc and would like to sell thi...
Joshua Aycock
Tax Implications for Seller in Seller-Financed Deal?
What are the tax implications for the seller in an owner-financed deal? I've identified an off-market property that I'd try to get seller financing on. They've held the property for a couple decades, and would likely ...
Rud Sev
Carry back or forward loss from sale of real estate
Hello,
I sold 2 properties at a loss in 2023, and one property for a small gain in 2023. When looking at my tax return from my CPA, the losses and gains show up on Form 4797 (Part I for the losses and the gain in Par...
Rafael Pacheco
Deductibles on interest paid to a hard money lender
I used a hard money lender to do a rehab. I also used some of my personal money to finish the flip. Can I recover any of my loses on the interest I paid or my other expenses? Thank you,
Melanie Baldridge
W2 employees and RE Pro Status
Imagine making millions of dollars throughout your career and then having to pay Uncle Sam 30-50% every year instead of compounding that cash over time.
This is exactly what real estate professionals have learned to ...
Matt W.
Noob dumb tax question.
OK apologies in advance if this is a dumb question, but I'm not quite getting it. Background, this is my first rental, manage and maintain it myself. In Wilmington, NC. Small 3br/2ba. Total payment is $794 and rents ...