Grant Baker
Investing with partner - Tax advantages
Hello all, I have never invested with a partner before but looking at possibly doing it in the near future. I have lots of questions on how it would work, we agreed we would go 50/50 split all expenses. If we invest i...
Eric Tomlin
Tax question re: sale of fire damaged rental property
Good day experts. I am trying to understand the tax laws and determine my tax liability for a rental property that I have sold in 2018. The uniqueness of this transaction is in the fact that the property suffered a fi...
David Pugh
How to properly apply tax deductions
Hi all - I'm just starting out my plans to invest in a rental property. I've built a pretty good model, but I'm trying to figure out one key aspect around taxation. For my example, let's assume the following year 1 pa...
David Howarth
Negative Cash Flow
If a property has negative cash flow at the end of the year do you get a deduction on your income taxes that are owed?
Say if you earned $30k from your job and you owe $1000 in income taxes but your property had a ne...
Jairo Rincon
House hacking upgrades
Hi BP,
I just closed on a duplex which I am house hacking. I wanted to know if I make upgrades to the unit that I am living in can those expenses be claimed on my taxes?
Jeff Ebert
tax hike worth appealing?
Hi I just received my new STR tax bill (Horry County/Myrtle Beach, SC) and it increased 2.5X! Is anyone familiar with appealing? If so, any recs in the Horry County area?
Andrew Yu
Tax Questions on Using My Home's Rooms As AirB&B
I'm about to make my spare bedroom's AirB&B live. My question is what's the best way to report my income on this and also reduce taxes? Put my home in a LLC? We don't want to miss out on the zero capital gain when...
Daniel Schiff
Taxes due for flip with married couple both with W-2 earnings
My spouse and I have a real estate pass thru LLC we are 50:50 partners / owners of. We are in the middle of a flip which will sell in 2024 and have a second one lined up. Estimate to make 80-100k from both deals. Fo...
Dan MacDonald
Depreciating the capital gains tax owed on the sale of an investment property
I've got client with a question relating to capital gains taxes on the sale of an investment property. If you have any familiarity with capital gains taxes/depreciation please chime in.He bought a single family house ...
Richard Haug
Shifting into self directed Roth IRA
HelloI just thought of a possible way to shift funds out of my 403b retirement fund and wondering if it's valid.I work for a university and have a 403b. Recently reached the age of 59 1/2 so I can take funds out witho...