Aaron Moayed
Real Estate CPA Website Article Garbage? Depreciation Recap OppZo
This guy's article states that depreciation recapture exclusion is not possible with the opportunity zone 10-year-hold:https://www.therealestatecpa.com/blog/real-estate-...Yet these other articles are stating that cap...
Jonathan Newsome
2019-2020 Taxes on Wholesaling
I started wholesaling this year under an LLC. I've been setting aside a percentage of my wholesale checks specifically for tax purposes. I'm also a w-2 earner, being employed by the US Military, which makes me a part-...
Aaron Westerburg
Selling Real Estate vs. Selling an LLC
Are there any tax benefits to doing fix n flips where you sell the LLC that the property is held in vs. selling the actual real estate?
Example: Purchase and rehab a house in an LLC, then sell the LLC.
...
Carol Venolia
What's my responsibility in regard to mice in my rental house?
Hello,I have a tenant family in a freestanding house in a semi-rural area. She texted me last night to say that they'd caught 4 mice in the house recently and she doesn't want mice surprising them or their two young b...
Luke Johnson
Taxes, Multi-Family Live-In, and LLC???
My wife and I bought our first property in June of 2021. We are househacking a triplex where we rent two units out and live in the 3rd unit while renovating. We are now looking to move on to our next property. A famil...
John Newburg
I bought a house, business expense?
So I do day trading at home - it uses to be an apartment but it was a good year and I bought a house outright.Can I deduct the space I utilize in my home as a business expense on next year's taxes?Also do I need a bus...
Claudia Bonaudo
Buy and sell in 6 months, what about taxes?
Ok, this is what we got...My mom bought a condo (140k) 6 months ago with the idea of renting it and have a passive income, long strory short the HOA didn't allow her to rent it, just for her (or family) to live in, so...
Blake Mgbada
Avoiding Capital Gains Tax
Does this situation sound feasible?Let's say I completed a live-in-flip as a single person. When I sell my house, I have over $300k profit. I have to pay capital gain tax on the $50k surplus. What if I refinanced for ...
Eamonn McElroy
IS your rental a trade or business (IRC Sec 199A/QBID/20% Deduct)
BP Community,247 pages of final IRC Sec 199A regulations, 39 pages of new proposed IRC Sec 199A regulations, a new Revenue Procedure related to W-2 wage calculation for 199A purposes, and a proposed Revenue Procedure ...
Terry Royce
A few questions
How often do you guys have the seller get fired up that you are selling the property basically for more than what you bought it for.
How do you handle situations like this.
I am also wondering how often you get the ...