David Goldstein
Providence, RI AirBnb rule
I live in NY but am in Providence at least 12 nights/month for work. I’m looking to purchase a multi family in Providence, RI. My plan was to use one the units myself, and AirBnb it the time I’m not there.Turns out t...
Bryan Lutz
Partnership & Tax Advice
Hello all, I will be entering into the following deal, please succinctly advise how you structure for liability and tax purposes.+ BRRRR deal+ two person partnership 50/50 on all funds, expenses, liabilities+ one part...
Jay Bedsworth
Solo 401k vs Self Directed IRA
Have been reading that a solo IRA would be a better vehicle for purchasing property as the property can be leveraged with a non recourse loan and not have to pay tax on the gains associated with the loan portion at th...
Erick Berthaldan
Writing off business expenses on Sch C or 1065
I'd like to start a discussion about writing off business expenses and what can or cannot be written off. Currently I have a corporation (although I haven't done anything with it) and I would like to know if I can pur...
Jon Catterson
Is an LLC needed for wholesaling?
Is an LLC needed or desirable to conduct your wholesaling business? I could see giving a link to how to look us up on the Secretary of State's website to show legitimacy as one benefit. Another big one is protection o...
Jonathan Ramsuchit
Self employment income
Hey guys!
How difficult can it be for a bank to approve me if a majority of my income is self employment income( non real-estate)? I have a Part-time job for the past 2 years that I wont give up until 2015 be...
Ryan Kowalewski
Buying a business and organization forming
Hello, I'm currently looking at purchasing a business and having a hard time determining if my advisor has a full grasp on what I'm doing so here are the details. I am buying a business for $700k (100k property, 100k ...
Michael Plaks
No, it is NOT too late to establish and fund your 2020 401(k)
I had three clients by now who were told by three different IRA/401k custodians that it's too late to set up a 401(k) for 2020. They were WRONG! You still have time, most likely.
Yes, it had been a well-known rule th...
Christopher Butterstone
Tax question - owning home vs still having a mortgage
If i own a house (no mortgage) and rent it out for 1600 dollars. Is that 1600 dollars considered income and have to pay taxes on. Vs if i had a mortgage and 1000 of that 1600 goes to my mortgage and 600 goes into a “r...
Bear Geiger
Acquiring off market Raw Land – Farms & Other
We are a real estate development company. We like buying off market properties because there is much less pressure of competing offers and timelines. We are a legitimate buyer (not like those people that want to pay y...