William Allen
10 Strategies to Slash Your Taxes this Year
10 Strategies to Slash Your Taxes this YearIf you have ever experienced being ‘caught out’ on your taxes and owing a huge amount, you know you don’t want to repeat that mistake again. We have gathered a few strategies...
Lucy Bennet
Tax Reporting Question
I'm trying to save on taxes but wondering if this method is correct. Can someone help?I have rehabbed and sold House A in April 2020 and House B in May 2020. I have purchased 2 more houses (House C and House D). Have ...
Humberto Perez
Underwriting denied my loan
I was pre-approved for a loan, 2 days before closing underwriting denied me. They requested me to put more down, but down my interest and pay an initiation fee. Is it worth it or should i just take the loss and loose ...
Lance Anderson
Bank sees Carryover losses seen as liability in refinancing
Currently have 3 rentals carrying legit losses on my tax return for a number of years now. I understand that this will be useful when I sell, in order to reduce my capital gains tax. It also reduces my AGI from my 9-5...
Steve Walker
Taxes
I’d appreciate some feedback on taxes.
My mom owns two houses outright. She resides in one of the houses, and I rent the other which had belonged to my late grandmother. These houses are in Colorado....
Christina Philps
Tax- unsuccessful flips
Hi guy- I'm wondering how I should report on my tax return an unsuccessful flip?
A bit of background - I bought 2 properties out of state using hard money loans last year. Turned out things didn't go as planned and ...
Peter Mikhjian
Rental Property Sale + 6 Figure Capital Gain = Huge Tax Liability
I've got a good/bad tax problem and I'm looking for some advice:My wife and I bought a rental property in 2015 for $275k (no LLC, purchased directly in our name, so technically a partnership). We put about $25k into ...
John Pelaez
Avoiding capital gains....
I recently bought a duplex and am going to rehab one of the units. It should cost me around 5-8k to do so. In the mean time I sold a property and profited about 38k. I know i will have to pay taxes on the 38k. My ques...
Ram Chandrasekaran
Credit Score and Credit Consequences of Short Refi?
Team
I am trying to understand how the Short Refi affects the Credit Score once everything's a done deal. Here's a hypothetical situation. Any insight is Greatly Appreciated!
- I short refi for 'X' amount the Lender ...
Kent Smith
help for a newbie re taxable rental income
I have read several threads on this, but I am a newbie and still a bit confused.We are married filing jointly with an income close to 150k last year. We own one rental property. No actual profit last year. Our monthly...