Khouri Rice
Question about bank owned property that is currently rented
I just bought my first rental property a bank owned property (4 units) that is fully rented with two of the occupants having leases through April of 14. I close on the 20th of this month, the bank has owned this prope...
Harrison Dagger
CAPITAL GAINS TAX for long term investment property
Hi. I live in Ohio. We had bought this house in 2010 for 150K as a foreclosure. We lived in it till 2015, moved out and rented it until 2020 summer when my tenant moved out. I have been renovating the house for the pa...
James W.
Is rental income taxed the same as regular income?
I am a new landlord renting out my first rental property. Does the IRS consider rental income as regular income and tax accordingly (30%)? Are there any special tax breaks or deductions?
Hernell D.
End of Year Tax Strategies
With the end of 2017 upon us and tax season quickly approaching, what general tax strategies should investors, or those looking to invest, make sure they take advantage of in order to get the greatest return and set t...
Patrick Shep
End of year tax strategies?
What are some good end of year tax deduction strategies (outside of increasing your 401lk contributions). I've read a lot of people will buy a property as an STR, put it into service then do a cost seg. I'm looking to...
Mitch Villalva
FHA mortgage loan
Good morning BP,I have a question about my current loan. I purchased a home about 6 months ago via a FHA loan. I have received a notice about having my PMI reduced or removed. Good news to me up front. I recently fo...
Jason Powell
Looking at property with section 8
I am looking at a property that about half of the tenants are section 8, they do not pay utilities, the other half pay utilities. I cannot make the numbers, for purchasing, work if I don't have the section 8 tenants p...
Marco Chaidez
What is Better ? A self Directed IRA or Solo 401k for RE
I am in the expansion process of my RE investing company and need to reduce my IRS Taxes.What is Best to use ? A. Roth IRA or Solo401k ?
Marcus Welson
Capital Gains offset by loss on assigned debt
Hello fellow posters. I have an unplanned capital gain over several decades due to a property interest I inherited. I also have the opportunity to be assigned a debt owed to a professional services company. It is like...
Sean Holland
Deductioning work vehicles/trailers?
I already have a primary vehicle. I want to purchase a secondary work truck (20k) and dump trailer (7k). Trying to figure out how much of these purchases I can deduct. Also, what other deductions would that cut into (...