Denise G.
Property owners in CA forced to reduce rents by 25%
Here we go again:https://caanet.org/votervoice/
A new legislative proposal in response to COVID-19 would force every rental property owner in California to reduce rents by 25%.
AB 828 by Assemblyman Phil Ting igno...
Al Brennan
Tax on new build sale?
Hi all,I just joined and hope I am posting in the correct forum.I plan on buying a one acre lot near where I live to build a house on and then to sell it when it`s completed. My question is will I be taxed heavily on ...
Bilal A.
Any High W2 earners out there?
To the High W2 earning BP members out there, what strategies have you used to decrease your W2 taxable income? Depending on what state you earn your wages, income tax rates of 40-50% are unreasonable. Most of you like...
Phil T.
Where do you keep your reserves?
I'm working on buying my first buy and hold and am trying to figure out the best way to work bank the accounts. I plan on creating a checking and a linked savings account specifically for RE. I was figuring I'd have...
Michael Meegan
BiggerBuckets - (2) to be exact!
If you get your REPS by materially participating more than half your time in real estate than your passive activity losses can offset your non-passive income, but how is it possible to acquire any non-passive income i...
Jack B.
Can I use a Solo 401k to reduce my taxable W2 income?
I have a full time job and rental properties. I'm looking for ways to reduce my taxable and am looking into whether 1) I qualify for a solo 401k as a landlord and 2) whether it will help me reduce my taxable income. I...
Bryan O.
Tax Deferral and How to contribute to solo 401k
As tax season is approaching, I'm trying to find more ways to reduce my taxable income to get down to the more favored brackets.If I have passive income (rent) coming into an LLC, can I pay myself a management fee to ...
David V.
Deducting passive RE losses from nonbusines income (salary)
Can I deduct passive RE losses from nonbusiness income?? I was not aware of this. Is this true??? See section in bold/underlined belowBelow is an article from the Washington PostTax change in coronavirus package ove...
Robin Grimes
Welcome TaxMan, I no longer hate you.
WOOHOO It's been a decade since I've seen a refund from the IRS. I'm finally seeing the tax benefits of owning rental property. So welcome TaxMan, it's good not to hate you any longer.
Spencer Hoogveld
Living off rental income
I’ve been a real estate investor for the last 5 years. I currently own/manage 4 multi-family properties under commercial loans. My goal is to eventually live off of my passive income. Are there any strategies I should...