Bryan Hancock
Excess Loans Over Basis Tax Treatment For Wrap Sales
Okay...So I have been studying this problem for years since I started doing sub-to purchases/wrap sales and it gets more confusing every time I look at it. I was hoping one of the tax wizards on the board could expla...
Terry Ouimet
Know Any Good CPA's, who invest in Real Estate...HELP
Hey BP, One of my good friends is totally just did the worst tax job in 2022 I've ever experienced, I vowed I wouldn't ever use him and mix business and friendship..., but my last CPA totally did me dirty and I had to...
John Brian
What would be the NAICS code for a Real Estate Investor
I am an LLC here in Texas and have to file a franchise tax accountability questionnaire, does anyone know the NAICS code for real estate investing?
N/A N/A
How does everyone deal with 1099 of income to the homeowner.
Does every bank issue a 1099, is it standard, can you do a deal and request the bank not to 1099 the homeowner.
Does it bother you in closing a deal that is short sale of say $100,000 that they are going to get hit w...
Steve S.
Don't pay Capital Gains to the IRS, invest it instead, LEGALLY!!!
No one and I mean no one should ever pay capital gains to the IRS ever again. Why, Opportunity Zone Funds. There is no reason why anyone, especially someone on Bigger Pockets, should ever pay capital gains on stocks, ...
George Goldstein
Lying about real estate price
You know how when you buy a used car from a private seller you tell the seller to say he sold it for $3000 instead of $18000 so your dmv tax is lower? What prevents you from doing the same for real estate property tax...
John Ringgold
Removing a federal tax lien that was part of an inheritance?
I have a seller that would love to sell a couple properties valued at about $70k each. Looking at the title work, when her brother passed away and deeded the houses to her, about $500k in IRS tax liens were attached ...
Susan O.
LLC names For showing that you are a "Rental Owner" not "Trader"
I was wondering because of the "trader status" if you sell too much real estate if it's better to put the word Apartments or Rentals in the name instead of a generic nameLike Outback Apartments LLC instead of Just Out...
Ryan Lesley
Tax Changes 2023 (Federal/Colorado)
Hey BP Nation,
This might be stale news to some, but I just wanted to share a few tax changes I have been sharing with my clients and thought was interesting. As the title reveals, they are Federal changes with one ...
Chris Masons
first time 10k ira withdrawl penalty free question....
Regarding this insentive from IRS, I have a deal I am working on where I will be buying a 2 family and renting it with one tenant doing a contract for deed agreement to buy the property.
I am asking for 10k up front ...