Josh Garner
Ways to reduce tax liability on my cash flow
Hey BP! What are some ways I can reduce my tax liability on my rental property? After reviewing my taxes, I earned $26,400 in rental income on my property, and all expenses (mortgage interest, repairs, depreciation, i...
Marcus Welson
Flat Fee or Reduced Cost Title Services in Florida
Background:
Miami-Dade Condo property.I am a first-time seller.No mortgages or loans on my property.Standard Florida Realtors Association / Florida Bar AS IS Purchase Contract.Buyer in default on various provisions a...
Jorge Arias
How to use real estate to reduce W2 taxes?
My wife and I make ~$500k/yr. I'm an software engineer on W2 and she started as real estate agent about 2yrs ago. We are looking for ways to reduce taxes on the W2. We currently do not own any rental properties. We di...
Dina Schmid
Buying Parents' Home - Ways to reduce costs and hassle?
Husband and I are considering buying his parents' home and I have some questions about this and would love any feedback on how to minimize hassle and our costs. We're doing this for two main reasons: 1) Prevent his da...
Eva K.
Reducing Closing &Calculating REET) when buying out my partner
TLDR: I'm buying out my house from my ex-boyfriend in Seattle (King County), Washington and I'm struggling to find what the REET if I'm buying my ex's stake in the house. Do you pay less if its only for half the house...
Karla Slyngstad
1031 Exchange - can you reduce your investment value (no loan)
Hello. I need to sell my home that I've rented out for the last 11 years to reduce my debt. It should sell for $875 and I owe $430. To avoid capital gains I would like to reinvest, without a loan. Can I do a 1031 ...
Robert Burns
Monthly Lease Payment Does Not Reduce Lease Option Selling Price
Very often I have tenant buyers automatically thinking that the lease payment they make every month while the are living in the Rent to Own property while they are working on obtaining a mortgage loan goes toward redu...
Issac Kao
Adding owner to reduce Home Sale Tax on capital gain
I plan on selling my house to downsize and move out of state. If I sell the house now the capital gain would be around $700-800k. Being married, we would take $500k off that gain, with still a decent chunk left. I've ...
Jordan Eng
Reduced Rent for Tenants - Home Renovation due to water damage
Hi there! I am not sure the protocol for this and wanted to get some feedback. I currently own a 3 bedroom townhouse and rent out 2 of the rooms. On 10/26/18 there was a flood in the home (fault of my own) causing dam...
Mark Doty
401K Dist, reduce income tax through cost segregation v. ROBS?
Before exploring this concept with a qualified legal and tax professional, I wonder if any of the community has anecdotal experience around taking a distribution from a 401K and balancing the earned income taxes with ...