I'm about to make over 500k on the sale of my home. It's been owner occupied for the past 2 years and my income in '18 and 19 has been very low. Under 20k.With that low income, can i still be charged capital gains?I...
Hello people of BiggerPockets,
I plan to be a realtor sometime soon. I just learned that realtors are self-employed and file their taxes on a 1099 form. This means I can write off expenses related to my work. Hence, ...
I'm considering starting a company for my property ventures as they are set to increase substantially over the next 12 months. I own multiple properties in 2 different states and 1 property aboard. I consulted 2 lawye...
Here are some tips to mitigate capital gains on real estate sales:
Use the Primary Residence Exclusion: If you have lived in the property as your primary residence for at least 2 of the past 5 years, you may be eligi...
Hello, I am looking for recommendations for an investor friendly accountant. This year will be the first year we'll have made some significant returns on a few syndication investments we were involved in, and we have ...
Looking for anyone who has worked with or researched working with ProVision in the Wealth Building Program (Tom Wheelwright-Rich Dad, Poor Dad CPA). It's a big financial commitment and would love input before moving f...
From down payment, to deed recording fees, to lender's title insurance, I need to know the correct way to categorize the line items of a HUD-1 statement. I realize most costs aren't tax deductible or capitalized, I'm ...
I’m a new business owner and I’m looking for a new tax prep company for my business. I currently have legal Zoom and I been having a bad experience with them. The process of filling my taxes have been prolonged due to...
I apologize if this has been answered before. I did a brief search and didn't find anything that answered my question. I'm wondering how private lenders get taxed on their earned interest as they loan money to RE inve...
Let's say I'm creating a 506(b) to syndicate a deal to buy apartments. Is it practical to open it up to foreign investors? Assuming I have just (1) one investor from Canada. What's the additional cost for just one (1)...