Rereloluwa Fatunmbi
Qualifying for Real Estate Professional Status: A Detailed Inquiry
I'm employed as a W2 computer engineer, while my wife works as a W2 software engineer. We have one short-term rental (STR) and two long-term rentals (LTRs). I'm curious about my eligibility for real estate professiona...
Michelle Sangalang
W-2 High income looking for ways to minimizes taxes with Real estate license
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 ...
Daniel Dietz
What are Passive Loss Limits in an LLC with multiple members?
Hello All, I have been reading up a lot on Passive Losses lately as we have been looking at some larger properties and considering using Cost Segregation along with that. These purchases would be through LLCs that var...
Brian Paula
Using Passive Losses (STR or LT Rental) to offset Ordinary Income
Hello fellow Big Pocketers - I have a feeling that I am just out of luck here but thought I would reach out to the smartest group of people I know when it comes to real estate.Situation - -High earner in my W-2 job (n...
Jose Contreras
Tax benefits from RE investing in high income earners.
Hello everyone,We recently started investing in real estate in 2020. We are buy and hold investors and currently have 2 doubles in the cleveland area. We got into investing for it's wealth building annd tax benefits. ...
Joe Ortiz
Bots for Scraping - Target List
I've been using bots to scrape county websites for tax, divorce, probate, and absentee owners. I was doing this work manually and it would take a significant amount of time. The results have been exceptional. I've use...
Bryan Butler
Can I offset taxes on 401k cash out with real estate investments?
I may have a new job opportunity and am trying to figure out what to do with my 401k. At first i was going to roll it over into a self directed roth but am also thinking of cashing it out to buy real estate outside of...
Bill Ramsour
Use rental losses against other income?
I'm sure this is asked elsewhere but I wasn't able to find it. I found some things online, but I trust these boards more than the wild web. I have a single family rental. With depreciation, sometimes it's slightly ...
Landon Hale
Real Estate Professional Status?
I am looking for some clarity on the REP status. My main source of income is a full time W-2 job with a custom home building company (S-Corp). I am part owner of this company. I also have multiple investments as an LP...
Michael Sawers
Tax Deductions Exceeding Income
I have been analyzing houses for almost a year now. I understand the basics and really just need to dive in. One thing that has been a little confusing to me are the tax deductions. Off the top of my head, you can ...