Chris Mason
Easiest way to be allowed to prepare taxes, especially Sch E?
Hi Tax Pros,I'm a mortgage lender. We kind of have a love/hate relationship, but I'm probably never going to ask you for any sort of letter "guaranteeing" that Sally's business is "guaranteed" to make $X00k/yr for the...
Julio Gonzalez
Tax Planning Considerations with the New Bonus Depreciation
As I’m sure many of you are aware of, bonus depreciation began its phase-out this year. Bonus depreciation has been a key element in the tax planning strategies for many businesses which allowed for a large portion of...
Jason Wutzke
How Do I Accept/Use Private Money in a Flip without Paying Taxes
I am looking to family members to help finance the down payment of my first flip and possible future investments. I want to know if there are any specific steps or things I/they need to do in order to avoid paying tax...
Bienes Raices
Determining basis of REO property (rental)
If you bought an REO property (to be used as a rental) that needed substantial repairs and the market value is higher than what you paid for it, how do you determine the basis for federal taxes?
I have been told vari...
Shafi Noss
Syndication: How Valuable is the Time Value of Money?
Hello everyone, I'm trying to get a sense for just how valuable tax deferment through depreciation is to the multifamily passive investor. Suppose passive investor Isabel invests 100k in a syndication. The syndicat...
Earl Stewart Jr
S-corp tax filing for uber and flipping house(3 years held)
I have a single member LLC that is taxed as a S-Corp in which I flip homes and drive for Uber. I purchased a property in 2017 and finally sold it in 2020. I sold it for less than what I bought it for. I have filed the...
Warren Monlux
Provision Wealth
Hello everyone, first off I would like to thank everyone who posts here, I really appreciate it! I am thinking about working with ProVision Wealth out of Tempe Az, and was wondering if anyone could provide a review or...
Nate Meeker
Things you wish your CPA knew?
Hi Everyone,
The reason for this post is to gather feedback on what your ideal services, care, and even pricing would be for a CPA. BiggerPocket clients are some of my favorite to work with so any and all constructi...
Anthony R.
Using Pre-Tax Rent To Paydown HELOC
So it recently occurred to me that I might be setting myself up for failure. Earlier in the year, I bought a new building, but instead of traditional financing, this time I used my HELOC to purchase it. The numbers ar...
Helen Fradette
Newbie here, How do I calculate percentage amount to save?
Hello, I'm in the stage of figuring out where my money is going. When I hear people say, "Live off 50% of your income, invest/save the rest" how would I calculate that amount? I know the difference between GROSS and ...