Hello. I am looking to buy land (not for primary residence) and I heard that you can use a 401K or IRA (or similar) to purchase real estate, or else loan yourself money from the 401K, or something to that effect. Is t...

Happy Friday!  Cheers!So my wife and I are both teachers in NY.   We grossed $251,000 last year on our w2s and we file jointly.   We purchased 2 rentals properties (2 duplexes) last year and with the work/renovations ...

I have heard that the IRS will only allow you to have a negative Cash Flow for 5 years before they wont allow you to do business.

Does anyone know anything about this?

Can I use depreciation deductions from a rental property to offset income from my day-to-day job?

I'm doing tax planning for the next year. Looking for strategic guidance from an investments standpoint (of course I'll work with my CPA on the details)-
1. My individual taxable income in 2021 (after all deductions)...

I'd like to find out if there is a maximum amount of mortage interest that one is allowed to write off of income taxes in any given year.

I'm a newbie and here's my situation:

I'm a farily new lawyer (48 yrs old, un...

Merry Christmas and Happy New Year BP Family! Has any house hackers run into issues getting a conventional loan for a new/primary residence due to taking a loss on prior years tax filing on multiunit? Otherwise consid...

Hey BP Team!Looking for some advice on how to minimize taxes in CA. Here are the facts:1. High income W-2 ($400k+) earner and would like to keep my job.2. Own 3 LTR properties all in CA under a Trust.3. My spouse and ...

Can I cost 4 single-family homes to create a paper loss that offsets $2M in capital gains from an apartment complex? Where can I find more info on this (besides go talk to a CPA)

Hey guys,
I feel like Ive always struggled with depreciation concept...
So, Ive been googling it, and here is what I found:
Let’s say you buy a single-family home for $200,000. The tax assessor’s estimate of the la...