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Establishing an S corp
Hi there,
Another newbie question. We are newly investing in some properties out of our home state of California. We are being advised that we would have to establish an S Corp in every state where we are investing...
Patricia K.
Looking for an accountant in Vancouver WA or Portland OR
Hey BP!I am looking around for an accountant in the Portland/Vancouver area who has RE clients and can speak into how Private Money lending will be taxed. Mine seems to have taken a vacation :( Your help is apprecia...
Matt Mach
HELP! Seller did not obtain power of attorney from trustee
Hello BP,I'm hoping someone can give me a bit of advice here. I finally got what I thought was my first flip deal in Melrose MA. Here's the back story...I have an "accepted" offer from someone who I thought had power ...
Derek Scott
Capital Gains Tax Question
Hi, I have a motivated seller ready to sell his Mom's house in Texas. She hasn't been in the property for 5 years and has been in an assisted living facility. The property has been rented out for that period of time. ...
James Campbell
Gift of Equity Purchase Question
Hello all, I'm buying a rental property that I'm going to move into from my grandfather at a discount. When I told my lender he suggested I use a "gift of equity" as the down payment and that way I wouldn't have to co...
Airika Pope
Invest in Property personally or as a business?
Hello! I am new here, my husband and I are looking to purchase our first real estate investment. We already own an LLC/S-Corp in WA state for a completely different business and are trying to figure out who should own...
Lucas Gunderson
Tax Questions
I've got some tax questions for all of you pros out there. When flipping homes, what is the best way to structure your company so that your tax liability is decreased? I've talked with several people and they have s...
Marian Smith
Accumulated depreciation question...Taxslayer
I just finished my taxes using Taxslayer, as I have done for a decade. I just noticed a column on a worksheet entitled “ statement of depreciation” for “accum deprec” and I expected the number to be the number of yea...
Richard Prillerman
How much passive income would be enough to make you happy?
Just out of curiosity, how much monthly passive income would be enough to make you happy?
Mike Nelson
Question about LLLP, will IRS flag me....
Ok, so relatively new to the realm, but am taking on the education of my life with the help of this site. So what I am looking at is I have a colleague who is a Realtor. We talked about forming a LLLP in which she w...