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Yo, BPers,I started an S Corp here in Virginia about six months ago. I am the sole employee but am having trouble figuring out my tax obligations. I am actually a Tennessee resident, spend most of my time overseas, ...
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I put $50,000 down on a property that I am buying through the owner. The closing is in January. How can I deduct this on my taxes?
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Hello BP Crew!I have been searching high and low for the best place to start in terms of finding vacant land. I am very interested in the topic of land flipping but I am unsure where everyone is going for an easier ap...
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Investment Info:
Townhouse buy & hold investment.
Purchase price: $299,960
Cash invested: $45,500
House hack in a 3/3.5 Townhome
Househack numbers for FY 2022:
Collected a total of $13,700 in re...
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Can anyone tell me about the tax obligation for a checkbook ira? I know that real estate purchased from all cash proceeds, is not taxed on the rental income, from the feds, but I dont know the obligation of franchise ...
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As the financial market is still at inflection, I found something unique where we can arbitrage the mortgage payment with high rate CD, I know it's temporary but still pretty cool. For example, the lowest rate for 30Y...
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Are there benefits/drawbacks to incorporating in DE when the investment property is located in another state (in this case PA?)I have an existing longterm relationship with a company that just opened an office in DE a...
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We charged forth with a home but stumbled when we learned our initial tax obligation calculation was $400 a month lower than reality, crimping our DTI and mortgage figures. With 780+ credit and 40% down coming from ou...
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Hi All! I have a question. My partner and I are seriously considering the sale of a multifamily investment property that is worth $8M, and has current mortgage of say $2.5M. I own 64% and he owns 36%.The original mor...
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If I have a family member who wanted to sell there home with no equity. And behind on taxes. What would the best exit strategy?