Hi BP community,Does anybody know how the self employment tax works? I know it's 15.3%, but does it apply only if you have an LLC? And what if you currently have a full time job? Thanks so much in advance!

Howdy folks. Anyone do lease options in the great state of Texas? Because I’m wondering what happens if the owner dies before you can sell the house. This elderly lady wants to sell me her house too expensive to wh...

Me and my wife have been in the process of refinancing two duplexes and have come across a unique problem.  I’m curious if anyone has had this issue before and hopefully gotten around it. 
We have been denied for cas...

Good Morning BP!!!from what i understand, purchasing a property at a judicial sale wipes liens.using imaginary numbers, here is the scenario.house purchased at judicial sale for 40,000   (property worth 150,000)tax li...

I own various rental properties under a LLC partnership and I self manage those units, what is the best method of writing myself a check every month for property management? Do I issue a 1099 to myself or am I forced ...

I am currently drinking from a fire house on everything investment real estate.  Closing on my first investment duplex this week and looking for my 2nd.   I hear a lot about ways to 'off set' your W-2 income etc..   I...

I just received a weird request from one of my sellers. My seller is currently receiving Medicare. I just received a call from one of my buyers who's willing to buy the house. However, my seller asked if the purcha...

Hello CPAs! I am struggling to get a definitive answer to the question - are payments from a Performing Note passive investment income or are they ordinary income? I have seen it described as both - and lets face it, ...

I’m interested in obtaining a Roth Conversion Calculator that would analyze pros and cons of a Roth conversion vs keeping IRA.  Calculator should provide amount of conversion  tax payments needed, one or multiple conv...

Hello BP Community,
First-time post.
I'm under contract for a vacant assisted living facility (ALF)/ skilled nursing facility (SNF) in SW WA state. It was state-certified for skilled nursing and memory care for 36 c...