Nick Coons
Flipping & Tax Strategies
I know that with flipping properties, the profit generated is taxed as ordinary income. And it can significantly increase one's marginal tax rate.Other than the basics of running a business (operating as a pass-throug...
David Breitzmann
Benefit of Purchasing REO via LLC then selling it to oneself?
Hello,
Okay, the post on commodity acquisition via jewelry was perhaps too much "reverse-logistics."
I'm looking at the tax assessor website to track properties and noticing folks do the following:
1. Purchase REO...
Brahm Antonio
In times like this, how's your Property Manager handling it?
Good day everyone!
Let me start by saying, I am so grateful I have found Bigger Pockets and everyone in it. I have been reading through all the forums, attending webinars and listening to the podcasts. Thoroughly enj...
Kyle Westerman
LLP or No LLP
We bought our property back in January. Our goal is to buy a property a year so I thought it was a good idea to open a LLP to manage said properties. recently we discussed this with an accountant and he said there wer...
Matt T.
The $25K offset when making more than 150K/year.
I’m just starting out and am in the process of closing on a SFH in California’s central valley.
I’m reading the NOLO “Every Landlord’s Tax Deduction Guide” and have a question about net operating losses and the $25K...
Jeff Tumbarello
Here is an interesting twist
Par for the course, the pundits are wrong again. The down turn was going to keep people working. When you are 59 and laid off, your best bet is to retire.
http://www.latimes.com/news/nationworld/nation/la-na-retireme...
Don Pham
Recently Self-Employed: What income do lenders look at
Hello!TL:DR What income do loan officers look at? Total, Adjusted Gross, or Taxable Income?More in-depth: Should I file as sole-proprietor and reduce my tax liability by reducing my adjusted gross income (pays more SE...
Travis C.
Umbrella Policy versus LLC
Hi everyone, I have a question - strictly from a liability standpoint, which is better, holding residential rental property title in an LLC or just having an adequate umbrella policy? Has anyone ever heard of instance...
Chris B.
Reporting insurance payment on taxes
A tenant damaged the house she rents from me. Her insurance paid $15k to me via a check. My repair cost was that much plus some more. For tax purposes, it appears I report the insurance payment as some kind of inco...
Tom Wheelwright
Are You Active in Your Rental Real Estate?
Even if you have strong positive cash flow from your rental real estate, chances are you still have a loss for tax purposes due to the depreciation deduction.
This is a great tax strategy because your positive cash...