Chris M.
Changing from LLC to S Corp - How does it affect taxable year?
Hey guys, so we are changing our LLC to an S Corporation for our business entity type this year. We were likely going to do this in February of this year, 2018. My questions:1. Does changing from an LLC to S Corp affe...
Richard Pince
How to Tax shield my yearly Bonus?
Hello,I am a new investor and I have a question for the BP community. This year I will receive a sizable salary bonus from my employer. Through our retirement program we have the ability to defer 100% of our bonus t...
Emmanuel Kizayilawoko
Can I do a 1031 or is there an other way to avoid capital gain
Hello friends,I am looking into selling on of my rental properties, my renter has lived there for about 2 years. By selling I’m looking to profit around $140K before taxes and notary fees etc...My question is tax rela...
Anthony Sulecki
Moving Money In IRA's - Penalties
Question for a friend of mine. He wants to move his money out of his investment IRA's, without incurring any fees. Is this possible?
I don't know a thing about IRA's.
Aaron Barrett
Transferring/gifting property
My mother is near the end of her working life and wants to get rid of her 3 rental properties/duplexes. Our thoughts are that she could transfer/gift them to me to take over and I would in turn split the cash flow wit...
Spencer Keane
Capital Gains Avoidance
Hi all,I am currently in the process of selling a vacant lot owned by my LLC in Washington state. I have owned the property for about 2 years and will only make about $8k, but I was wondering if there is a way to avoi...
Sherri Schmonsky
Stock gains into 1031 exchange?
I have publicly traded stock which I'd like to sell without getting hammered on taxes.Is there anything equivalent to a 1031 exchange which would allow me to roll-over capital gains from the stock sale directly into a...
Brendan Coughlin
General/Long island tax questions
Hello, this is my first post. I've been thinking about investing for a long time and have really started doing some research the last few weeks. I have a tax question for everyone and if there are any LI investors t...
Aline Elad
Capital gain taxes from Investment account
Hi All,Is it possible to avoid capital gain taxes if I use funds from an investment account to BRRR a property and then return all the funds to the account within the same year? What if I leave some in the deal, can I...
Jesse Hinaman
What to do with Grandpa's Cabin
This is a question for all the trust attorneys, CPAs and those well versed in property tax assessment in California.Fiancés Grandfather passed away. She wants to keep the cabin in the family, but trying to determine t...