Dawn Wilkins
Seeking Tax Tip: How to expense seminars, bootcamps, guru materials
Question: Is it best to classify these expenses as education or consultation in order to avoid later IRS scrutiny?On the advice of this site I joined my local REIA. Unfortunately I didn't heed all the warnings. Went t...
Daniel L.
Wholesaling Entity P&L, COGS vs Operating Expenses?
I’m ignorant when it comes to accounting…Does anyone have a P&L template that’s best for a strictly wholesaling entity to present to third parties accustomed to reading P&L statements? I see the P&L te...
Dinesh T.
How to get Tax ID?
My attorney created an LLC for me. When I went to the bank to create an account, I was advised that they would need a tax ID for my LLC. I called the IRS, but could not get through. Please let me know what my next ste...
Christopher Smith
California Draconian Rent Control and Property Tax Inc Nov Ballot
In addition to an irresponsible Draconian Rent Control measure, California will also be voting on an equally irresponsible Confiscatory Property Tax increase in November.Props 21 and 15 respectively, will combine to t...
Account Closed
For 50+ MF, how common is it to show a loss after depreciation?
Hi,My wife and I run an online retail business with extremely high "earned income". We want to start investing in real estate to offset that income by one of us becoming a "real estate professional". We don't spend mo...
Elisse Glasco
TRUCKEE build costs
Looking to build in Truckee, what are current market construction costs? Architects and builders in the area are quoting 2000 per square foot, but I am seeing new construction builds in Martis camp selling for 4 milli...
Jared THomas
Newbie (ish) from Chambersburg, PA
I am sort of a newbie. I have done a few deals, mostly buy and hold residential, but I have been disconnected for the last several years. I have always been passionate about real estate, but I have spent the last ye...
Karen Higgins
Cost segregation questions - help needed!
Tax season is upon us, I'm in need of some advice regarding cost segregation for next years planning. My husband and I are real estate investors in MN with 70+ units that are long term buy and hold properties. We ar...
Mark Brogan
tax implications for a small business
I currently own a small plumbing businessI am trying to figure out if I am better off having employees on my payroll or having them on a 1099?we currently work for a big box retailer that pays us on a 1099 my plumbing...
Bill Briscoe
Meals Tax deductions at 50% or 100%
Which deduction do most rehabbers use when providing water, snacks, pizza, beer, etc for their work crews (family, friends, etc) on the jobsite?
I had always used the 50% deduction in other businesses, but ac...