Charles Worth
Anyone have experience with land conservation easements or farms?
As someone with a full-time job and W2 income in a very high tax state I have been looking at ways to maximize my tax deductions. As part of this strategy it was suggested I look into land conservation easements. Howe...
Sanjay Gupta
TurboTax Home and Business
I flipped property in 2017. We had two partners and used our personal name when buying. At time of buying, we did not have LLC setup.later on we have LLC and LLC taxes are taken care by CPA.How do we report sale of pr...
John Powers
SEO is a gift that keeps on giving
Search engine optimization is the most important, and most underutilized strategy for driving leads and sales online. After years in the industry, its apparent to me that SEO is often overlooked by real estate and pro...
Zoabe Hafeez
Itemized Invoices for Rehabs (Contractor v Tax Accountant)
Hi All - my new tax accountant is recommending that all future rehab jobs have a line-by-line itemized estimate for her purposes. I ran this by both my mentor and one of my contractors and they pushed back saying tha...
Umair Khalid
High water bill due to toilet flush leakage
I am in New Jersey. I received a super high water bill ($3800) which is way higher than my usual bill ($800). Upon checking I found out that my tenant had a leaking flush tank in one of their toilets which they never ...
Will Buscher
Do I need to submit 1099s for contractors on a house I rehabbed and sold but had intended to rent?
I have two rental houses and one I purchased to rehab and intended to rent out, however, I decided to sell that property.
I've read through the instructions for the 1099 and know that landlords aren't require...
Chris Cambridge
Lines of Credit And How They Work
An unsecured credit line option can be used to purchase, rehab, and flip real estate, allowing you to leverage resources to do more deals, and increase your bottom line on each and every property.There are source o...
Kevin Olson
1031 Exchange rules/Laws - Owning for less than 1 yr
Hello BP, General question on 1031 exchange. I've read up on a lot of the details but I'd love a definitive answer to a unique case I'm working with. Purely investment property mixed retail/residential, bought in Octo...
Shane Moss
Will a cancelled check suffice in place of a receipt?
Will a cancelled check suffice in place of a receipt? I ask because I recently had my property completely re-plumbed by my co-worker's brother. I've been so busy I didn't think about having him sign a receipt and si...
Jacob Temple
1031 exchange question ❓
If you are flipping a house and it doesn't sell right away, so you decide to rent it out. How long does it have to be a rental until you can 1031 exchange it?