Lane Kawaoka
Strategic Income Shifting from Parents
What are your strategies for income shifting? Long story short, I have a client who needs to support parents, and they can do some small "administrative tasks" in his business. What is the most tax-efficient strategy?...
Dan Roma
S-Corp and annual filings
I am in the process of setting up my first S-corp. I have read information on my state regarding minutes and bylaws. I've done all that so I believe I have everything I need to get started. However, what is required o...
Fernando Cardona
Private lending tax issues if using a line of credit
I have been reading a book called the bankers code It talks about becoming the bank and using lines of credit from a bank to then do private lending.If anyone is actually doing this and could give me some input about ...
Michael Lemieux
Death w/ no heirs, next of kin....
If a property owner dies with no heirs or next of kin, what happens to the property? Does it go into probate?
Alex T.
When to pay taxes on a flip property
Hi Everyone - I'm looking for some advice on how to report my 2017 taxes as it relates to rehabbing expenses.I just finished renovating a single-family house that I purchased at the end of July 2017. I own the propert...
Jonathan Chavez
Tax advice | To 1031 exchange to not...
Hello, fellow bigger pocketers. I'm trying to weigh out my options on whether or not to do a 1031 exchange on the planned sale of a duplex I am about to list. I estimate that we will be on the hook for approx $100K in...
Julio Gonzalez
It's Not Too Late to Claim the Employee Retention Tax Credit!
Did you know you know that while the Employee Retention Tax Credit officially ended in 2021, you can still claim this tax credit?
First off, what is ERTC? The Employee Retention Tax Credit is a tax benefit that is fu...
Bruce W.
Does President Trump's new tax plan threaten 1031 exchanges?
There have been many rumors from various sources recently about limiting the 1031 tax-deferred exchange. Now we see that the President wants to eliminate all tax deductions, except for mortgage interest and charitable...
Luke Eastman
Rental properties in LLC
Hello I had a question, my father passed away a few years ago and left us two rental properties in Virginia. Both properties owned free and clear by our mother but my brother has the power of attorney. We are trying t...
Christopher Williams
Tax classification
Hi all. I'm new to real estate investing and from the Philadelphia area. I recently set up my business using legalzoom. The main function of the LLC will be to flip properties. While I do have a minority partner, I wa...