Sheena Varghese
Flip taking longer than a year and tax implications
Hello,My current flip will take longer than a year, about 18 months. Can I still deduct all renovation costs from the profit in regards to paying taxes on the profit. I have all cash in the property and for renovati...
Account Closed
L.A. Wildfires and Their Tax Implications for Affected Residents
Los Angeles County continues to grapple with devastating wildfires that have claimed five lives, destroyed over 2,000 structures and forced the evacuation of at least 130,000 residents. As firefighters persist in batt...
Sean Overcrest
Seeking Advice on Property Transfer Options & Tax Implications
Hi there investors! I am newbie in real estate and I don't have much experience in real estate. I'm wondering if you can help advise on this situation.My mother currently resides in a property located in Los Angeles ...
Mo Farraj
Offset flip gain with Promissory Note - NY
Hi All - Happy Wednesday, I had a quick question on how promissory notes work. I own 2 properties in Long Island, NY with a partner and originally decided to split the profit 50/50. Property 1 is for sale, while prope...
Brian Gerst
Getting Rental Properties out of an S Corp
What is the best way to get rental properties out of an S Corp in order to minimize the tax implications?
David Pierce
Taxes
my brother and I recently closed on a triplex through 1031 funding from another investment.....how hard would the taxes be to do? We met with Perkins in Portland and got quoted 2500 bucks just for the business side o...
David Czech
Can I make someone else a host if I own the property? Tax Implications?
Hey Everyone. So I'm in the process of creating an AirBNB listing but would like to make someone else the host so that they would serve as the primary contact. I would prefer to be listed as the emergency contact in c...
Phillip Murdock
Can my LLC Secure Loan from Personal Home Equity?
I am new to real estate investing. I was told the best thing to do was establish an LLC as I begin my venture. I plan to access some of the equity in my home, along with cash on hand, to purchase and reno property. ...
Victor V Rogers IV
Add spouses to our new LLC?
My business partner and I are starting a real estate development company and are forming our LLC. We're each married and are wondering what the pros and cons are to adding our wives as members. Both wives are stay at ...
Fernando Cardona
Private lending tax issues if using a line of credit
I have been reading a book called the bankers code It talks about becoming the bank and using lines of credit from a bank to then do private lending.If anyone is actually doing this and could give me some input about ...