Kevin D Key
Cash out Refinance of Rental Property to give to Son
I am a retired 63-year-old military veteran considering giving a rental property to my only son, a 22-year-old senior in college. The rental home in San Antonio, TX is completely paid for and has a market value of abo...
Elvin William
Help with hiring family members tax benefits
Hello, I'm looking at hiring my in laws for my LLC rental property business. Question is, how can I take the step and how do I do that? Also, do I really get tax benefits for hiring my family member. Can I do write of...
Tom Rairdon
Tax considerations when selling a short term rental
Hello all,
Has anyone sold a short term rental owned over a year as a non real estate professional that qualified as short term capital gains tax deductions with expenses and depreciation? Did the proceeds from the ...
Stephen Kozlowski
House selling tax strategy
Didn't know if any of you could help me out with this scenario / example:Person A purchases a home in year "X" and this person sells the house for a profit (say 25k) after owning it for 11 months (<1 year = capital...
Andrew Martel
LLC's, Taxes and My Pay Check!!
Hello Everyone!I have a few questions in regards to LLC's. Here's a quick backgroundI have one property right now (the one i live in) but will soon be moving out of state and renting it out. I'm looking at going int...
Thomas Strimple
If money is invested in PML co., is ROI taxed as ordinary income or Capital Gains
I have a PML LLC and this year started to invest other people's money in RE besides my own. Is the money they make taxed as ordinary income or as Long or Short Term Capital Gains.EX: John invests $100K in my company...
Steve Maye
Question about depreciation and Prop Analysis Worksheet
I am new. I have been working with the Property Analysis Worksheet and have a question about depreciation. Depreciation is the amount we can claim as a loss each year against our profit. If the property real...
Gerald Maczuga
Selling rental properties
I plan to sell 2 rental properties in 2024. I heard that I can avoid paying capital gains on them if my husband and I make less than $94,000 combined. We are retiring in a few years and will likely make less than th...
Pat Wasson
401k from former employer
I am trying to determine if it is a good idea to cash out an old 401k (55k) from a former employer to use to invest in additional properties. Isn't the 10% penalty the same as a loan at 10%?
Julio Gonzalez
Smart Strategies for Selling Your Investment Property
Selling an investment property can feel like a double-edged sword. While it's exciting to cash in on a successful investment, the looming capital gains taxes can significantly cut into your profits. For savvy investor...