Juancarlos Cortina
Tax % on rental income.
Hi, does anyone know the tax porcentage on long term rental income for Miami FL?
Dustin Awtrey
Taxes on rental income
As a regular w2 employee, a general rule of thumb is you will be paying 1/3 of your income into taxes. If you are full time landlord and live only off rental income profits what is a general rule of thumb on taxes y...
Account Closed
Tax on Interest Income
Interest income is taxable on schedule B. As a lender, what if the note in addition to interest also calls for a split of the profits on a flip, is that also considered interest? I'm assuming lender has no ownership...
Bill Mitchell
Wholesaling Income & Taxes
This was my first year wholesaling part time here in DFW. I made a decent chunk of change doing it, about 40k. My question is when it comes to taxes, should I utilize a real estate tax professional at the end of t...
Steve Maye
Taxes on Rental Income
I am moving out of state. The state I will move to has a 6.5% income tax. I will have a rental unit in my home state of Tennessee. Can I assume the rental income I receive will be taxable in my new state of residen...
Jacob Casarez
House hacking taxed income
Hello Bigger Pockets,I am just over a year into my first house hack/live and flip deal. I owner occupy the property and rented out 3 rooms in the home for a total of $1,250/month utilities included. Although it does n...
Ethan White
TAXES ON PASSIVE INCOME??
Hello everyone, this is my first topic post and my question is i have bought a doublewide in a park for $800/mth mortgage "includes rent space" and am renting it out for that. Owners insurance is still covering it. It...
Justin Provo
Tax Lien Income Classification
I am interested in investing in tax liens and I'm curious how the revenue from tax liens is reported to the IRS. Are there any IRS documents associated with purchasing tax liens (even if they are redeemed before forec...
Larry Flanagan
Reduce income tax bill
Besides making less money, what are some good ways to reduce my income tax bills? I mostly flip & wholesale, so my income is primarily taxed at short term rates. Between state & federal last year my tax bill...
Alessandro Pascucci
🏦 Income taxes question
Good morning everyone,I have a basic taxes question for you today:Assuming my gross rent income is1000$/ month and based on accurate research I can plan a total of 500$/month of expenses (small repair; big repair; cap...