Account Closed
Tax Savings as a High-Earning Dual Income W2 Family ($300k / yr)
“Wealthy people buy real estate.” I realize I’m fortunate enough to count myself among them. These supposed tax savings though… where are they?
My wife and I are fortunate enough to have two W2 jobs making ~$150k /...
John Underwood
Real Estate Professional no W-2 and IRA contributions
I have no W-2 job, can I still contribute to my E*TRADE Roth IRA accountSituation:I self-manage my LTR portfolioI self-manage my STR property that is an hour away.I buy tax liens at auction every year.I have flipped a...
Evan Loader
Need a CPA for Foreign Earned Income and who deals with K-1
I have a somewhat unique situation where for all of 2019 I earned my W-2 income overseas(in Bahrain) is working as a civilian defense contractor supporting the US Navy. I will qualify for the Foreign Earned Income Exc...
Bryan Hendrick
New person with Interest in earning income through rental property. How to start?!
Hello! I was recommended this forum and podcast from a stranger after having a conversation about passive income. I have a lower middle class family and lifestyle. I am blessed no doubt about it!!! However, at this po...
Amy Pfaffman
IRA contributions for real estate investors
Hi everyone,
Since it's year end (or the new year when you're reading this), I was thinking about contributing to my existing Roth IRA or at least moving some money from my traditional IRA to my Roth. I wanted to be ...
Rich Riesmeyer
Seller financing and social security benifits...
As I understand it, if you have not reached full retirement age, 66, your social security benefit will be reduced if you exceed a certain earned income. Rental income is considered passive, so that does not redu...
Carlson Driver
Are expenses on short term rentals tax deductible
Say if we had a short term rental in Hawaii and were using a property manager to manage it for us which cost us ~$200/month. And we had to replace a dishwasher for $500 in 2021. Would the $2400 ($200 * 12) + $500 = $2...
Ray Donovan
Using disability payments to fund a SDIRA or SOLO IRA
Does anyone know if I can use income from SSDI and a private LTD policy to fund either a self directed IRA or a Solo IRA?
Chad Slater
Solo 401k as a Real Estate Professional
Hi, I am a real estate professional. Can I use my rental income to fund a solo 401k since I'm managing all of my properties? My rentals are held under LLCs.Thanks!
Keith Meyer
Accredited Investor Qualification: 401k Distribution as Income
Question for the accountants and syndicators out there: Would you count someone taking a 401k/IRA distribution as income towards the $200k annual income requirement for accredited investor status?For example: If someo...