William Lackey
Business for landlord
Wife and I flipped our first property in 2020. Recently purchased a duplex and we will rent both units. What kind of business can I start to take advantage of tax deductions. My wife and I are both W2 employees and ma...
Joe Wood
Section 179 and income
Good morning everyone,I have a question regarding section 179 and if I would be able to deduct certain expenses against my income. My question is whether or not I can expense the full amount of my purchases against my...
Tim Porsche
What Would Ben Carson's 15% Flat Tax Mean for Landlords?
Hey all, bit of a hypothetical question here, but would you be worried if Carson's 15% flat tax would be adopted at some point? He said there would be no deductions...which would obviously have a huge negative impact ...
Ian Turner
Solo 401(k) with Husband/Wife Tax/Non-Tax Funds?
Hi all, I'm looking for some advice on how I can best structure my retirement account real estate investments to leverage my real estate knowledge for these long-haul accounts. Background: Experienced and diverse rea...
Weng L.
How to file tax return if single-member LLC has EIN?
Hihttps://www.irs.gov/businesses...According to this IRS guideline, I am supposed to use SSN to file tax return for my LLC (I am the single member of the LLC). I searched in BP and folks here said single member LLC ca...
Account Closed
Series LLC: Banking Options
Hello all, apologies if this isn't the right section but figured I had to take the first step somewhere. I recently started a Series LLC to house multi family properties (under each child) in Wyoming - for additional ...
Eric Bradeis
How to make the deal possible...
So I'm looking to buy a triplex using an FHA loan. It is currently fully rented out with all leases renewed until june-july 2018. FHA requires that we move in to the property within 60 days. The current owner doesn't ...
Shawn Morrow
What would you do next?
My wife and I own and manage all of our real estate investments which currently consist of 11 Single Family Homes. One of which serves as our primary residence. I am fully employed in the tech space with a six figur...
Joe P.
Applicant runs a daycare?
One of my apartments has an opening, and I have a solid applicant (family). Dad has a job, mom runs a licensed daycare and they were expecting to use the apartment to continue to do so. It obviously adds income to the...
Jamaar Brown
Does anyone have good info on VA loans
I still have my VA loan and i want to use it in the next few months. Because i have to stay in the property while i have the va loan would it be more beneficial to just get a duplex or a triplex? I feel like a duplex ...