Yi Chu
How to file tax if there is no business activity
We set up an LLC in Q4 2023, so there was no business activity last year. How should I file federal and state (North Carolina) tax return?
Aaron Noltemeyer
Capital Gains Tax on Primary Converted to Rental
I converted my primary residence into a rental December of 2022 after buying a new home. After a mediocre year of renting we've decided to sell. Will we owe capital gains tax on the rental property after just one year...
Seena N.
California resident sold rental property in Georgia - CA capital gains??
Hi everyone, I'm a CA resident who just sold a GA rental property that I purchased back in 2017. I thought I did all the math (Federal capital gains, GA taxes) but panicked when I realized I'd likely have to pay CA ca...
BRANDY MEADE
Lump Sum Pension Rollover - Solo 401K
Hello,
I'm hoping I can get some advise and direction. I have a pension in a cash balance plan and I need to access some of those funds. I am not old enough to access them without it being considered an early...
Erik Schaumann
Wealth Manager with Real Estate Expertise, in addition to 401k
I'm interested in speaking with a Wealth Manager, who has actual real estate investing experience, and could help to understand some viable options for dealing with my current properties and equity, in the short-term ...
Jeremy H.
backyard patio / side walk increase cost basis?
I planning to have backyard installed in new construction SFH.
I read this cannot be added to the cost basis of the rental property and be depreciated by 27.5 years since it is not an improvement to the property.
Bu...
N/A N/A
Bankruptcy & Foreclosure
I am a single mom and received my foreclosure summons in Sept. I have looked at filing Ch. 13 bankruptcy, but feel money would be too tight and I would end up in trouble again. I have looked at Ch. 7 and I qualify, ...
Ryan Montes
California CPA Recommendations
I live in Southern California and am a W2 employee.I own my primary property and one investment property. (I intend to expand my portfolio? I am looking for a real estate savvy CPA. To help maximize tax savings- I am ...
Carlos W. Cruz Muniz
Sole Proprietor or LLC?
I've been thinking about starting to wholesale but, I want to set up my business correctly. Should I remain a sole proprietor or create an LLC? I've been looking at several videos but no one has been able to answer th...
Melanie Baldridge
For Limited Partners
Did you know that Limited partners or real estate investors can absolutely benefit from depreciation?
RE Pro Status supercharges this.
If you or your spouse are an RE Pro, your LP investments can lead to depreciatio...