Joe Lijoi
Tax treatment for LLC with no income but expenses?
Hi all! My current full rehab duplex project is owned by an LLC which owns nothing else or has not generated income yet. My question is can I use the expenses incurred on the project as deductions even though there h...
Franky Davis
Tax Strategy for Married Filing Joint High Income Earners!
Hello everyone, I hope you all are doing well and starting off the 2022 year right. I wanted to start a line of communication for this specific investor category. Specifically, for high income earners (1099/W2) who ha...
Xavier Garcia
Taxes paid on income earned through a regular job
Greetings everyone,I was wondering if, for example, I earned $200k in one year working and decided to invest it all in a property (single or multi) all cash, would I have to pay taxes on that investment, or is there a...
Jingwen Ni
Question about saving taxes for high W-2 income
Hello, has anyone approached this issue and was able to overcome it? We are considered high earners and not able to take the passive income loss on schedule E due to the $150k cap thus unable to enjoy the depreciation...
Joyce Talley
RE Professional Tax Benefit w/ Spouse W-2 Income
Hey everyone, hoping to get some insight from this group regarding the RE Professional Tax benefit.
I see lots of articles claiming that I should be able to deduct rental losses against my husband’s W-2 income if I c...
Haris Mehovic
Short term rental tax benefits against W-2 income
Hello,Just a quick question for anyone who might have some knowledge on it.If I team up with friends to buy an Airbnb property, can we split up the bonus depreciation loss against all of our w-2 incomes?Thank you!
Joe Lijoi
Tax treatment of LLC with no income but expenses
Hi all!
My current full rehab duplex project is owned by an LLC which owns nothing else or has not generated income yet. My question is can I use the expenses incurred on the project as deductions even though there ...
Ally H.
Income Taxes & Deductions for House-Hacking with AirBnB
Background: We bought our first home this year and are renting out the extra bedrooms through AirBnB. We'll receive a 1099-K from AirBnB on the earnings and are not exactly sure how our tax situation with regards to t...
Zach Westerfield
Legal/Tax structure for rental income paying medical bills
My grandmother is aging and currently in an assisted living facility. In order to cover the cost of her care, my mother has rented out my grandmother’s home. I am trying to help her put the home in the correct entity ...
Min Kim
Tax question. Total cash flow or AFTER income - expenses?
Dumb question or maybe I’m not thinking this correctly.What’s actually taxed? The total cash flow just after the mortgage is paid? For example;Mortgage payment $1000, rental income $1500. So is the $500 that’s being t...