I currently have a SDIRA with a check book LLC.  I have a couple of houses and mutual funds.  I have just learned that I may or may not have overstepped my arms length vs personal involvement by occasionally providing...

I just bought my first rental house, and I am not sure how to account for expenses for first year accounting.  I understand how expenses are calculated for 2nd year.  I have been researching and have read mixed result...

Wanting to understand how the interest part of our income (partnership LLC) for short term loans- mostly fix & flips, are considered for tax. One accountant said it’s not subject to self employment tax since it’s ...

Hi everyone, I recently closed on my first rental property and I'm curious about how to track closing costs correctly. Do they apply as "miscellaneous" expense (which I can deduct when I file the taxes of the current ...

I have bought a few rentals in the Chicago area and am put off by the considerable closing costs, especially from the title company.  I'm looking at something right now and the down payment is $18,000 (20% down) and t...

So I needed a few things.  I need my invoice to match what Airbnb sends me for payout and I need the sales tax to be what is actually taxed so that QB can keep up with it for me.  I worked on this with my accountant s...

I am a first time investor and am purchasing an investment property in Baytown Texas for $200,000 (single fam). I was expecting the closing costs to be around 3% but they are closer to 7-8%. Is this reasonable? I a...

I closed on a multi-family 203k project in Chicago that I am house hacking. Since I will be occupying, I understand I can only write off a portion of the expenses (presumably 75% since there are 4 floors and I will li...

I am looking at purchasing two 3-unit townhouses as a package deal. Each townhouse is $90,000 each, for a total of $180,000. I am going to get a separate mortgage note for each property.

I talked to a bank the other...

does anybody knows if those fees will be refunded the the tax buyer  once the homeowner redeems the delinquent taxes. so If I buy a PIN for $500 I need to pay $500 + $200 in fees. will I get the $700 back or just the ...