Cindy Tang
Can Depreciation be adjusted if it's not limited in prior taxes?
I have 2 rental properties, Texas and Georgia. I sold one in GA in 2018 (which we purchased in 2007) and didn't do 1031 Exch. Now, the depreciation hit me back as gain when doing the tax report. However, I reviewed th...
Aviv Peretz
S corp as a general contractor & LLC as investor
Hello , I'm a general contractor in Los Angeles (S corp) and also own 3 properties in an investments company (LLC). My S corp make much more $ than the LLC. What I need to do in order to buy properties from the S corp...
Account Closed
Recs for ADU designers & builders in San Diego
Hi there - I bought a SFH in Oceanside (1700 sq feet on a ~7000 sq ft lot) recently and am planning to build an attached JADU (garage conversion + possible extension) & then later an attached or detached, larger A...
Michael Raegen
Looking for Tax Accountant recommendations
Hi All. I am hoping to gather recommendations for a tax accountant to help me with tax strategy to help reduce taxable income among other support. I am a full time engineer "W2" worker and have been an active licensed...
Zaid Badabwan
Flippers salary or profit?
I am new in property flipping with two other partners. I would like to know if we should have salaries for our work? or wait until profit is realized at the end of the year? Is paying salaries reduces profit and there...
Randy Rodenhouse
This is what I would do if starting in real estate today
This is what I would do if starting out in real estate and wanted to buy my own home and start getting rental income and experience. Buy a 2-4 unit Multiunit using Fannie Mae new program of 5% down program which star...
Jeff Rutland
SFH Portfolio: Do you use an accountant for filing taxes?
As I accumulate SFHs for passive income, I'm wondering if I need an accountant. I've always done my own taxes (including a single rental) using TurboTax. I'd love to hear folks thoughts on the pros/cons, especially ...
Ralph C.
Conservation easement investments - tax savings shelter
Has anyone had success in winning a case against the Irs with their direct participation in a conservation easement investment?Lately they have been cracking down hard and doing audits on conservation easement invest...
Curt Bixel
Debt to income ration at razor thin margin
I am attempting to refinance two rental properties. My loan officer has indicated that my debt to income ratio is really close, and it is going to come down to being able to verify each and every rental payment. I h...
Sharnell James
LLC ??
Before you make you first deal either flipping or wholesaling do you think that it is best to make a LLC ?