Tony Duong
Paying taxes on the profits from a flip project...
I’m curious how others approach paying taxes after selling a flip project...1. Do you pay your taxes to the IRS immediately after acquiring the check from closing? Or, do you put enough aside and pay at the end of the...
Cameron Lee Brown
Need advice on filing K-1 for non-state resident
I am a Tennessee resident and have invested in a syndication of a multifamily property located in North Carolina as a limited partner. The LLC that bought the property is incorporated in Arizona. I received an Arizona...
Account Closed
Rental income to run another business
Hi,This may be a dumb question, but I was wondering if I can use my property rental income to fund my other business (i.e. construction company)? Are there legal or tax problems associated with this?Thanks in advance.
John Teachout
Fed tax disparity between 2021 and 2022 based on taxable income
I'm pulling my hair out over this years (2022) taxes. (turbotax)I've worked through all the Federal taxes and in 2021 I had an AGI of $111387. My taxable income was $75202 and fed taxes were $3504. For 2022 my AGI w...
Nathan Gesner
Landlord, Tenants conspire to steal millions in rental assistance
Is anyone surprised? I'm surprised that they've only found 1% are fraudulent so far. I suspect over 50% of all assistance applications are unnecessary and/or fraudulent. Such a waste of tax-payer money.https://wgme.co...
Chris Meunier
Capital gains tax exclusion for CA
A simple question--I am fairly familiar with the 500k capital gains exclusion rule that is for properties lived in 2 out of 5 years. My question is around what tax goes into that 500k calculation--only federal tax? CA...
Mandeep Randhawa
Question about capital gains
Background info...I still live with my parents in Ca and I purchased an investment property April 2012 at auction. I purchased for 139,000. Eventually did a conventional loan (25%) and currently owe 90k. Similar ho...
Benny Wijaya
Real estate investment with foreign investor in Ontario, CA
Good day to all,I am doing research on how to structure a real estate investment with foreign money participation in Ontario, Canada, but has had difficulties in finding good info on this topic. I am looking for help ...
Justin Wilson
Tax Deductions for Closing Costs
Hello,I'll be refinancing a duplex I own in a couple of months. I plan to pay the closing costs out-of-pocket so I don't have to finance them. Can I consider the closing coats a business-related expense and deduct t...
Will Bradshaw
Historic tax credit leveraged investment
Investment Info:
Other other investment.
Purchase price: $749,000
Cash invested: $6,300,000
This building was a former industrial laundry along an old canal and then rail-line that went through the h...