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...
Joe Howell
How to determine Capital Gains Rate
To all the BP Tax Experts,I am thinking of selling my properties and was doing research on capital gains rates. I ran across this article and was wondering about the income threshold. Is my capital gains rate based u...
Skyler Mckinney
Where can I learn about taxes? (flipping not rental)
I got my first flip on the market and have no idea about taxes at all. We are approaching the end of the year and I have always had a w-2 job or was in the Navy so taxes were very simple and I could do them for free o...
Jane S.
They havent filed tax returns for 2021 or 2022
Showed house to a married couple who actually completed their rental applications quickly, mostly accurately, and have good rental history and working the same jobs for years. They are the first folks to ever accompli...
Sean H.
Help me understand S-Corps better
As it relates to being the sole owner of the "corporation."So, for my question lets say i hypothetically made 100k for the year. I read that is best keep wages and distributions equal to avoid a red flag from the irs....
Abdenour Achab
How do you report income from discounted cash flows ?
Let's take an example. Let's say a trust deed backed note was issued in August 2005 in the amount of $44,500, with interest rate of 6%, and payments of $266.80 amortized over 30 years. Let's say you bought it in Septe...
Ryan O.
S-Corp Reasonable Salary
I understand as a shareholder of an S-Corp you are supposed to pay yourself a reasonable salary for work performed on behalf of the business. You cannot pay distributions until you first pay yourself a salary.
...
Rosalie Taran
Income Tax extension/ Solo401k/ capital gains over 121 exclusion
Hi BP community, My husband and I will be selling our California home early next year and are expecting to have capital gains above and beyond the 121 Exclusion of $500K.1. I have a home business and just opened a Sol...
Ann A.
Tax questions for Private Lender
Looking for tax related advice. If I lend money to a real estate investor friend, I would get a 1099-INT at the end of the year. Which would go as personal income in 1040. Is there any way of treating it as business i...
Brian S.
20% pass through deduction for 2018
I own an insurance agency and over the last 13 months I have bought, rehabbed, and rented 5 SFR’s... I actively manage the properties and I run them like a business. I meet/screen prospective tenants, I cut grass, pai...