Logan Allec
Question for CPAs
Hi--I'm a little rusty on these rules so please help me out--let's say that you and I form a partnership. Let's assume the partnership agreement works out such that I will be allocated 90% of the partnership income, ...
Kent McDaniel
I own my home outright...asset or liability?
I have been reading “Rich Dad Poor Dad” for the first time and I have to say...mind blown. I always saw my dad as very financially responsible, coming from a very poor upbringing and making a comfortable life for our ...
Tania Reuben
STR Accounting IRS Structure Question
We're planning to STR a cottage on our personal property.My question is from a structure standpoint, can we rent the cottage through one of our corporations, or do we rent it personally. I know one other family that ...
Debra Johnson
LLC or run through personal account for taxes and banking
Just purchased single, out of state, property for STR. We reside in WA. STR in Boise, ID.
As a married couple do we set up LLC or run expenses and income through our personal names? This is in regards to banking and ...
Kyle Weinapple
Transferring title from individual name to LLC
How does one transfer the title of a property from their individual name into an LLC. Also, does remove the liability from their name individually, so they can lower their DTI? Thank you for your tips in advance.
Stephan Kraus
If I buy a LLC that owns property, does the tax basis change?
Hi BP experts, Im looking to purchase a multifamily property that is owned by an LLC. For various reasons im considering buying the Business VS. buying the property, now my question is: Does the property tax assessmen...
Karen Moysi
Capital Gains
If I know I'm going to have capital gains , would it be best to spend the money that's going towards tax on the gain or spend the money on capital improvements to bring up the cost basis?
Anthony R.
Good free rental property tax calc
Let me preface this with I ALWAYS hire someone. I attempt to estimate my tax bill every year and I am ALWAYS wrong. I pay a CPA, I've learned my lesson. That being said, this whole tax thing really works me up. I am a...
Paul Ryan
Depreciation recapture/taxes on a syndication investment
Hi all - I have a question on depreciation recapture as it relates to syndications and calculating after-tax returns as an LP (I am mainly thinking about multi-family here). As I understand it, an LP will have to pay...
Paul Garcia
Tax Structure Advice
Hi All,After 30+ years of owning apartment buildings my dad finally but his properties into LLCs (sole owner/series LLCs)! He also set up a management company, he has always self-managed. The idea is for the individua...