Jinyu Shao
Tax Implications of Primary Residence vs Investment Property
Hi all, I own a duplex in Queens and our family both live and rent the property. My family is planning to move out of the neighborhood and rent out the entire building.
I'm unsure whether the house will become an ...
Eric Stewart
Property Ownership, Tax Implications, and Family Business Collaboration
My brother and I own a property together. It is currently in my name but will go into our LLC eventually. He is a GC and does the work needed on the property and owns a masonry business as well. We had some problems w...
Al Brennan
North/South Carolina rental unit income tax implications.
Hi folks,I was looking at a condo in South Carolina tonight with my realtor when she told me that it probably wasn`t worth my while financially to buy a S.C. property to rent out while I live in N.C. because the tax I...
Kumar Gaurav
State tax credit implications upon sale and relocation
HelloI am planning to sell my rental in nj and permanently relocate to ca by July 2024. in current year 2023 I am still a nj resident but will very likely end up being a ca resident in 2024 due to relocation.If I sel...
Dan Weber
Tax Implications of Adding a Partner to LLC
To all of the CPAs out there - I need help! I have an LLC that is the owner of multiple rental properties. This is currently a single member LLC that does not currently have an EIN. What are the tax implications of ad...
Julian Coltea
Property Tax Implications of a condo de-conversion
I have a 23 unit condo building in Chicago, and I currently own 22 out of the 23 units with the intention of buying out the last unit. I have heard from some people, but have not gotten a definitive answer, that going...
Naomi T.
Tax Implications for Funding One Entity With Another
Hello, my name is Naomi. I am new to posting but have enjoyed the community for some time.I am considering purchasing an investment property (US land) where I will eventually build a vacation home that also generates...
N/A N/A
Tax implications of sister-in-law on title?
Hi all,
My wife and I are helping her sister to buy a condo so she'll have a place to live when she gets married, which is coming right up. However, she has no established credit, so the loan will go under our names...
Brant Richardson
Owner financed deal, tax implications for the seller?
I just found out about a friend of the family who owns a duplex that he has lost interest in. Apparently one side has sat vacant for about a year now. He "can't sell it because he will owe too much in taxes." ...
Zach Geddes
Potential Tax implications for buying house for parents
First thank you for your time.I live in CA and my parents are moving to MN where the rest of my family lives. Due to health issues my parents are now on disability and a fixed income and want to move for cheaper cost ...