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Hello phoenix area,I am looking for a CPA to help with my taxes for my house hack that I bought April of 2023. Does anyone have any recommendations? Thanks!
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Hi everyone,I'm looking to start purchasing some rental properties in the coming up months. The price hike between homestead and non-homestead taxes can be quite huge in some areas of Michigan. I'm running the numbers...
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Hiusing a 100K property as an example (turnkey), with a 25 year loan, 76K, 5.6% p.a. that would mean the first year roughly 4K interest, and the depreciation would be 100k/27.5=3.6K, so total 7.6K - 630 USD/month.Now ...
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If one were to make the amortization period for a seller carried loan something like 99 years with a 30-year balloon instead of making the interest payment below "market" would this be subject to imputed tax by the IR...
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Hello team,I bought a foreclosure a few weeks back which I will be fixing and selling this year. Should I still protest property taxes and use the lower taxes it as an added "benefit" to the new buyer?
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I am a retirement account maximalist. I want to make sure I'm not missing something.I can withdraw penalty free from prior Roth contributions and 5+ year old conversions, an inherited tradtional IRA, an HSA with prior...
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I'd like to get my first home maybe within a year. While filing my taxes right now, should I file all, some, or none of the my business expenses? I'm curious to know if 1) it is okay to file no expenses, and 2) would ...
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I am going to take a loan of $25,000 out of my 401k for a house hack. My wife’s student loan is an income based repayment plan. As I pay my 401k loan back, will this in anyway help lower the loan payment?
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Hello and Good evening BP Brothers & Sisters.
Tonight I wanted to post a question I have been thinking a lot about lately. "How could an investor best utilize property to lower taxable income"?
We currently own...
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How much tax savings can be expected with my first investment property? How can I do the calculations myself? I pay a lot in taxes in my W2 job, and would like to know how much can be offset.Does the math change signi...