Steven Choi
Taxable Income VS Cash flow
Hey everyone, New to investing in real estate. Been listening to and watching a lot on real estate investing but a lot of the content is US specific and I'm trying to verify this with seasoned investors for Canada. I ...
Tim Hoffman
Taxability of Cares Act Grants
I posted this for a CPA originally but thought I would open up to the rest of the BP family.
My background; I have been a landlord/investor in Illinois for about 21 years. I currently have 2 LLC's the oldest of whic...
Tim Hoffman
Taxability of Cares Act Grants
Are Grants for Rent, created by the Cares Act, considered taxable income?My gut is they are taxable to me as a landlord. With that said, here in IL, the State published a FAQ section on applying for the grant and it ...
Jason Krawitz
Gains Taxable? 2 years later?
Two years ago, I moved from house # 1, where I lived for 10 years prior, and purchased house # 2.If I sell house # 1 today, would the gains be taxable? I originally purchased house # 1 for approximately 131k and will ...
Stan Soulen
Taxable income when House Hacking
Hello BP,
After listening to podcast 196 with CPA Brandon Hall, I am questioning whether or not I'm most efficiently House Hacking.
I currently rent out half of my property. I was told that as long as I was living ...
Pandu Chimata
Depreciation and large taxable income
Hello everyone !I heard that we can/should claim depreciation (if available) on the rental/business properties every year. Obviously, this will help paying less or no taxes at that time.However, when you sell the hous...
Samantha Fairbairn
WA Rental Property Income Taxable?
Hi Everyone, I am currently creating invoices for a commercial rental property. Is WA states rental income taxable? (i.e. should I charge tenants the tax?)Thank you for all of your help.Best Wishes, Sammie
John Reed
Taxable Solo 401k RE events
Saw on another blog references to " some real estate transactions can trigger the need for a 401k to file a tax return and pat taxes".Looking to use my solo401k to invest in real estate but want to avoid making a mist...
Account Closed
Are SBA Disaster Loans Taxable?
Are 2021 SBA Disaster Loans used in real estate, that are in deferment Taxable? Where does it go on the forms?
Matthew Harrigan
Mega backdoor Roth vs taxable
I am a retirement account maximalist. I want to make sure I'm not missing something.I can withdraw penalty free from prior Roth contributions and 5+ year old conversions, an inherited tradtional IRA, an HSA with prior...