Alik Levin
HELOC interest deduction - New Tax Law
Dear all,What's the definitive answer - and preferably pointer to authoritative resource - regarding deductability of interest on HELOC with the passage of new Tax Law? I do realize that HELOC interest deduction now o...
Marco G.
Texas LLC, CA LLC Tax?
Anyone know offhand if a CA resident is one of two shareholders of a Texas LLC holding Texas commercial property, does the CA resident incur the minimum $800 CA LLC tax fee? It is expected to show a tax loss.
Account Closed
Need Advice about LLCs - foreign vs. domestic (CA resident)
Hi Everyone! I would appreciate if any accountants, lawyers, etc. can shed some light on the implications that arise from being a CA resident who invests out-of-state through a business entity such as an LLC.
I want ...
Samantha Miles
Advise on Assisted Living Facilities
Hello BP Community!I'm a residential investor in FL and I have been considering expanding my portfolio by purchasing an assisted living facility (ALF). This is a very new venture for me and I would be very grateful to...
Hament Raju Mahajan
Business Purpose Loan for a owner occupied SFR collateral in California
Is a business purpose loan which is secured by borrowers primary residence similar to a business purpose loan secured by a investment property?
Are there any special criteria which the lender has to meet for...
Jason Pham
California residents investing out of state, LLC, DST, etc?
Hello fellow investors. I am a California resident investing in Charlotte NC. I have a several SFRs and in the early stages working with a GC to build some new homes in the near future.I've been operating my business ...
Alexis S.
michigan llc
Hello I am new and want to start an llc in Michigan. I have the forms printed but have no clue what I am supposed to write in article II i want it to be a wholesale business but also will eventually buy and hold or fl...
Ken Sanders
LLC owns my primary residence -- $250k exemption apply???
I have a single-member LLC that owns a residential property. The property is my personal primary residence. If I sell my house in, say, 3 years, am I still eligible for the $250k exemption?
TJ Brown
Can I write off inspections on a house I turned down
I have paid over $600 For a house inspection, radon testing, and a pipe scope on a potential home I was going to move into and then fix up and eventually rent out. Am I allowed to write this off on my taxes?
John D.
If rental is converted to owner occupied; then is $250K tax free?
Consider I buy a property and rent it out. Then sometime in the future I occupy it as an owner for 2 years and then sell it off. Would I receive the full $250K profit from selling the property as tax-free money?