Shashi P.
Business giving out cash need to avoid taxation😜
So “someone” has a business that is throwing out nearly 1.5 million dollars profit per year after reinvestment into business. Now taxation is horrid in this income.
So I can obviously lease the office building back...
Shelton Eubanks
Flipping Tax Question, Is this Legal?
I was talking to a friend of mine and he mentioned that he is refinancing his deals just before he sells them to elevate his cost basis. For example actual money spent/cost basis $100,000 apprais...
David Green
Using IRA to buy rental property
I'm over 59.5 so I can withdrawal money from my IRA without penalties. I have a Roth & Conventional IRA. After watching my retirement funds drop significantly a couple of years ago due to the market I started thin...
Tim O'Connell
Cash ROI
Hi Everyone,Can I get a confirmation of what I am including in my computation of Cash ROI? I have looked at popular spreadsheets posted by others on BP and they appear to not include any type of taxable income into th...
Account Closed
Am I doing the tax math correctly?
Hi All,I want to confirm if I understand tax implications of a rental property correctly. The biggest confusion point for me is if rental income is taxed on gross income or net income (I think it's gross?)Here's an e...
Luis Acevedo
CPA
Hi everybody, I hope you guys can help me.
I’m a new REI and I’m assembling my team, but I was wondering if you live in NY and want to invest in another state do you have to get a local CPA in GA or NY? Also, if the ...
Eve W.
Real estate loss in 2013, could it be carried over to 2014?
My real estate wholesale business had a loss of over $8K in 2013 and I was/am not a RE professionals regards to IRS terms. I had profit in 2014 for wholesaling of over $15K. Could the 2013 loss be carried over to 2014...
John Reed
Taxable Solo 401k RE events
Saw on another blog references to " some real estate transactions can trigger the need for a 401k to file a tax return and pat taxes".Looking to use my solo401k to invest in real estate but want to avoid making a mist...
Clint Harris
Our latest Self Storage project is officially open! Holden Beach
It's been a wild ride this year! My partners and I started the year with what we thought was a pretty ambitious goal of trying to put $100 million of commercial real estate under management in a 2-3 year time frame. ...
Alex T.
Quarterly LLC Payments
I have an LLC that was started in 2017 for my first flip. The LLC generated no taxable income in 2017, but of course, we still filed a return. We sold the flip property in 2018 for a profit. Was I supposed to be payin...