Alessandro Cardito
Amortization of multifamily and tax on capital gains
I’m planning on buying a three family house- rent two units and live in the third.I plan to depreciate the building to lower my tax burden on a yearly basis.Assuming I live there for 3 years and then sell it I would n...
Tyler Harrel
Experience Pulling Money from 401K Plan
I have been researching a variety of ways to come up with money to finance a deal on a property and thought of pulling money from the 401k Plan that I have been investing in for the past couple of years. Does anyone h...
Ray Detwiler
Transfer of home to LLC and future vulnerability/liability
I've tried researching this a bit but haven't quite been satisfied with what I have found, so I apologize in advance if this has been answered and I just missed it or didn't understand it correctly.
Few questions -...
Cheree Harris
Tax Question for Rentals
Applied and was approved for a guidance line of credit in my personal name before starting a real estate business with another party. Closing on the home next week but payments will be made to lender from company acco...
Tiffany Tan
Help with owner-occupied duplex tax filing
Hello everyone, I need some help with my taxes. I own an owner-occupied duplex in Philadelphia, and each unit is equally 800 square feet. I want to make sure I'm doing everything right before I submit my taxes.
Here...
Alan Crookham
Do we lose 50% of earnings in fees for flipping?
Is this math right? I have been in rentals for a few years now, just two properties, and am looking to move into house flipping later this year when things calm down more. I’m looking at these numbers though, and do c...
Kris Scott
LLC Formation in California
I've recently formed an LLC in California. I want to make sure I understand this tax payment thing properly.For Federal taxes, I know that there is a $800 minimum annual franchise tax in addition to LLC fees based on ...
Joel Florian
Tax deed bare land in Wasilla
Investment Info:
Other other investment.
Purchase price: $7,000
Cash invested: $7,000
Sale price: $16,000
I purchased the bare land at a tax deed auction. Cleaned it up, paid for a survey, chase...
Max Emory
September 15th Deadline Reminders
1st Reminder: September 15th - tax filing extension deadline for partnerships and S corporations2nd Reminder: September 15th - Q3 estimated tax payments deadlineConsult your tax filer/CPA. Don’t miss these!I hope this...
Jeff Smith
Seller Finance in foreclosure, should I help them or...?
Scenario -- seller has foreclosure sale date in a few days and they are 25K behind. Their payments are $1650 per mo. I was thinking of bringing them current, taking over the payments, and keeping them in the house, un...