David D.
Tax Out of State Income
If I live in CA and earn income from AZ (re sale or rent income, note sale or interest income) do I pay CA or AZ state taxes? Does it make a difference if assets are owned in an entity?
Joann Lim
Ex-pat in the UK - Double Taxation
Hi, I'm an ex-pat living in the UK looking to invest back home. Anyone have experience in how we're taxed? I am getting mixed information. I hear we are taxed twice (UK accountant) but I see we there is a double taxat...
Harold Gontz
Mortgage Interest/ownership question
I have a mortgage on another investors property. In exchange I have a mortgage note and receive 25% of net earnings. How do I list this for taxes? Schedule B for mortgage income or earned income?
Anthony Shields
Will switching to S-Corp affect my ability to get loans?
My primary business is not real estate. I use the income from my primary business to qualify for loans. I'm thinking about electing S-Corp next year, but I'm worried it will cause a problem due to my "salary" being lo...
Kasia Leville
Tax adviser specialized in foreign income
Hi, Can anyone recommend a good tax adviser with extensive knowledge of tax regulations regarding foreign income and assets, particularly avoiding double taxation and Foreign Account Tax Compliance Act (FATCA)? Prefer...
Emmanuel Rosario
House Hacker - Real Estate Professional Status
By the end of this May / early June I will be the owner of 2 family unit. This will be my first property. I am using a FHA financing to purchase the property. If I fulfill all of the requirements , can I claim real es...
Shodhan Patel
Kids salary for Roth IRA
Hello my fellow BP’ers. 1st hope y’all are staying safe. 2nd. Are any of you putting young kids (5) on payroll? How are you handling this? I only have two properties, and wanted to get my kid some earned income to inv...
Chris Virgil-Stone
Lease & Advertising using LLC
So I have an LLC set up that I was planning to use to obtain a hard money loan for my first flip. I have not used it as of yet. I was wondering if I am able to set up a business checking account and list the LLC as th...
Nick C.
Question on Taxes for Private Lending
Hello BPers, I'm stumped and hope to get some clarity on this - If I am currently living in NY, but lending on properties in Florida, which state will I be paying taxes in? The lending LLC will be set up in Florida. H...
Yuri Chernousko
Legal entities and taxation
I want to ask advice on the setup that will be best for me: 5 rentals (1 in California and the rest in Florida). What would make the most sense? Several LLCs in an S-corporation for asset protection? And a combinat...