Michael J Scanlon
Pass through deduction plus solo k
So I’ve been reading the new advanced tax strategies book and according to the book, because I am a 1099 realtor, I can use the pass through deduction to take off 20% of my taxable income. But according to the first t...
Jace Perez
How do I get started
Hey guys, I just turned 18 and I recently started learning a lot about real estate, I want to have my first property by the time I’m 20, as of right now I have a job and I am also doing other things to make some extra...
Jonathan Allen
Can I set up a 401(k) matching policy within my LLC?
Hi BP community - I wanted to know who has set up solo 401(k)s within their LLCs as a way to both reduce tax exposure and add to retirement savings? I'm looking for a way to reduce profits into year end and the con...
Reinaldo Lopez
Uber drivers seek extra cash working for house flippers
I saw this article today on the WSJ Web new roles for Uber drivers (scouting potential targets for a house flipper)https://www.wsj.com/articles/uber-drivers-seek-extra-cash-working-for-house-flippers-11559035802?mod=h...
Yohannes Kifle
Self Directed IRA and Vanguard
This is just a post about some things I learned about opening a self directed IRA.I recently opened a self directed IRA and transferred some after-tax money in my employer's 401k managed by Vanguard, to the self direc...
David Kendall Jr
First Flip Underway!
September 3, 2024, marked the day my wife and I analyzed our first deal. Since then, we've analyzed at least 75 deals across multiple markets, developed our buy box, and choose a strategy that aligns with our goals. W...
Don Spafford
tax filing under LLC or personal rental income?
This is my first year holding rental property. I hold title to it in an LLC but the mortgage is in my name. While filling out my taxes I placed the rental income as the LLC income, thereby creating it as business inco...
James Mckinnon
Business Structure & Maximizing Tax Advantages
Hello Everyone,I am a new real estate investor. I just bought my first short term rental in Pigeon Forge, TN. Things are going great but I have a couple questions on business structure and maximizing tax advantages.Th...
Timothy Joost
FHA Loan - Less than 2 years employment history
Background: I & the wife are looking to buy a MF 4 unit property priced at $250k via an FHA loan. One of the requirements for the loan is that we have a 2 year continuous employment.
I have a 1 year gap in income...
James Palassis
Paying my own LLC for lawn care?
I currently do the lawn care for 6 of my long term rentals. Would there be any tax advantages for me to create an LLC for lawn care and paying said LLC a fair market wage for lawn care?
I was thinking 6 lawns, $50/l...