Colleen Ferrari
Losing deductions due to income cap
Hi-- this is my first post to the group. I joined a few days ago so please forgive me if I do this wrong. I read many articles and books on investing in real estate. I have owned a few rentals for 20 years or more, an...
Kyle Z.
Mortgage at 7% interest rate for investment property; pay down earlier?
Hi everyone - I currently have an investment property with a 150K+ mortgage of 7% interest. It is cash flowing a couple hundred bucks every month (so rent > mortgage).
I have a lot of cash saved up in a 5% HYSA c...
Robert Lockwood
Claiming Depreciation in LLC vs. Personally Owned
My most recent tax filing made me more aware than ever of the potential benefits of claiming depreciation. I've since sold that single family rental and have a contract on another in my area, near Denham Springs, Lou...
Desmond Price
Rental to help offset 120K in income tax
Hey guys,Im trying to get an idea of how much a rental property could help with offsetting income taxes. Im looking for a SFH here in SoCal to rent out long term. The purchase price is 250,000 and the rental income is...
Account Closed
Real Estate Rental Income as written by Kislay Shah CPA
Real Estate rental income is earned when a real estate is leased for rental income generation. Rental income generally is treated as unearned or passive income for income tax purposes. Rental income is reported on Sch...
Daniel Dietz
Contribution Limits for Solo401k & IRAs ?
This is more of a tax questions that real estate, but the funds would then be investing in real estate.My plan is to set up a Solo401k before the end of the year, but have a few questions during the planning phase bef...
Jacob Sampson
Using LOC to fund ROTH IRA
Can I pull, say $500 a month (every month), off of my LOC to fully fund a ROTH IRA then immediately pay the LOC off, essentially funding a ROTH IRA tax free? Seems like it would be illegal but wondering if anyone kno...
Matt Gomez
Newb question about wholesaling
Quick and easy question (hopefully). If I make say 10k on an assignment fee, maybe do that 3x, then buy a 30k rental property, would I need to pay taxes on the 30k income even though I reinvested it into real estate??
Account Closed
REFI money to pay TAXES
I am currently in the process of refinancing my two rental properties. This should be net me approximately $45,000. Should I pay off my backed taxes or should I buy two more rental properties?Backed Taxes currently ...
Mani Swagath
LLC setup to passthrough rental losses to offset W2 income
Few of my rentals are marginally either cashflow + or -, depending on the year, vacancy rate etc. Does LLC setup passthrough rental losses to offset my W2 income ?