Account Closed
Step 1- 10 to flipping houses
I am currently in the process of setting up an S corp to begin flipping houses. I have about $120K in cash and plan to use hard money to come up with the difference. I would like to stay in Ventura County because I kn...
Ryan Deasy
Rental Property Draws
Hi everyone, For those of you that take draws or distributions from your rental property's income, how do you normally calculate it? Do you process it as, say, 10% of gross rents for the month or quarter?Or, do you do...
Matthew Cervoni
CPAs: Does BP love them or hate them?
After listening to the recent episode of the BP podcast (370) with Amanda Han and Matt MacFarland, it is evident that Brandon Turner and David Greene LOVE a good chat with a CPA. HOWEVER.....BPCon2020 is on October 5-...
Cole Fisher
Can I Charge Tenants Through My LLC If I Have an FHA Loan?
The beauty of Real Estate Investing is the fact that we all find ourselves in unique strategies to approach our business. With that being stated, sometimes it is difficult for us to find exactly what we are looking f...
Joe Crupi
Landlord or Homeowner Better for Taxes?
Hope this makes sense, but was listening to episode 269 with Amanda Han and Brandon Hall, and it got me wondering.Is there any real net- benefit from owning a relatives home and having them pay you rent versus them si...
Account Closed
LLC created in Wyoming, not being operated yet
Hello, BP members!Question here- LLC was created last year (Feb 2015) in state of Wyoming, I am the only member of it.However since I am based in Cali, I assume I need to pay 800$ for taxes? If yes- I do it only thro...
Matthew Rutledge
LLC operating out of state
I have an LLC that I started with my now ex-wife. I got the LLC in the divorce. I plan to use this LLC to hold/manage rental properties long term, and basically take care of all my real estate dealings that are not ...
Margaret Feit
SDIRA 990-T for UDFI - Advice and CPA Recommendations Needed
I have a new SDIRA that invested in 2020 into a real estate syndication partnership. I do most of my own taxes, but this is my first year with self-directed retirement accounts, and I don't have a clear understanding...
Kyler J Sloan
How to Educate Yourself on the Tax System
It can be a bit frustrating trying to gain an understanding of the tax system when all questions issued to that effect receive the proverbial response: "Consult your tax professional".
Well, my "tax professional" is ...
Larry Flanagan
Ways to offset passive losses?
Just finished my 2016 taxes and I have about $30k in passive losses that I have to carryover. Besides buying better cash flowing properties in the future, are there any other ways to take advantage of passive losses?