Clint Pearcy
How to pay more in income tax
I had lunch with a customer yesterday, who, with no prompt from myself, began telling me about all of the homes he had owned. The last one, he put up for rent the last year they owned it. His comment was "they really ...
Walt B Philip
PITI projections vs real after tax income
I’m trying to calculate my expected real profit vs the basic formula and seeing income tax taking a hefty chunk out. Is this right? Can you please correct me where I’m wrong? Simple numbers for sake of conversation ...
Angela Zaitz
interested in income deferment with tax advantages
I'm planning on retiring in 4-5 years. Any additional income now will push me into the next tax bracket. I am thinking about getting into buying and holding rentals, and possibly syndications that will mature in 5 yea...
Joe Tran
House Hacking Tax Tips & Reporting Income
I've been house hacking for over six years-- it's been a great source of side income for me and I've hit a wall when it comes to increasing my loan pool due to my debt to income. My loan officer says I need to report...
Tuan Hoang
Tax strategies for high income W2 earner
Hey everyone,I am a high income W2 health care provider. Taxes were never the main reason I wanted to get into real estate, however I took a 30min coaching call during the lockdown to discuss strategies and the person...
Chris Hicks
General Excise Tax on Rental Income Hawaii
Hello All, Just trying to get some clarification on why HI has a GET (General Excise Tax) on gross rent. I have searched around with no answers. I understand that you have to pay taxes on rental PROFIT. But HI char...
Nicholas Glatter
Taxes & Rental Income what to report?
Hey everyone.I’ve been reporting my rental income for the past year now so no issue there.But, my mortgage is 2700 and the rent charged to the tenant is 3250. Do I report the entire amount $3250 as income or just the ...
Frederick Hawkins
Tax Question - Passive Real Estate Investment Income
Hey BP,Looking at starting an LLC to manage future investment properties. Anyone have experience operating an LLC and not having to pay self-employment taxes? Here's my understanding of the IRS code on this question...
Jordan Meyer
Income Tax write off maximum is $10k?
Hello,
So I recently found out that you can only write off $10k from local and state income tax. Does this mean I cannot write off depreciation + property tax + mortgage interest more than $10k?Thanks in advance for ...
David Park
Cash flow after taxes vs taxable income
Hello all, I'm new here. I'm reading Real Estate By The Numbers and I had a question: I was reading about Taxable income, which is the amount a property will be taxed in a given year by using the formula [Taxable inco...