Hello all, new to the boards here, I have a question re my IRA and tax penalty -  did a 50K draw (60 day rollover) from my IRA (Traditional) to cover some credit card debt and medical bills and had planned to redeposi...

My client, let's call him Paul, was not happy to owe the IRS $100k - the tax penalty of having a successful flipping/wholesaling operation. So, based on his buddy's advice (sounds familiar?), he ordered a cost segrega...

So, I'm active duty military with rentals held under my name and an umbrella.  I'm going to start flipping.  I was going to start an LLC because I was told that it will limit my taxes to 15%.  Currently I'm in the 25%...

I am currently looking into buying a rental property. However I will pursue the deal that makes the most sense and wanted to confirm I am on the right track in regards to my understanding of tax write offs. I plan on ...

Hi Everyone,Would love some advice from those of you who have been in my shoes before. I'm new to this and cramming education quickly. Im a young corporate sales professional with a large income (which we all know mea...

Hi All,I've been getting different answers from different people on this. Want your insights.Scenario: You buy a house. Live in it for 6 months. Market changes and it becomes a total seller's market.Neighbor houses ar...

Hi everybody. This is a continuation of a thread I started last year about my neighbor screwing up my flip:https://www.biggerpockets.com/forums/67/topics/373...Well my flip is still on the market and I’ve had multitu...

At my old job I was getting a pension but since leaving that company and joining these new one where I work I am now offered a 401k plan, which I plan to fully take advantage of, to which I come here to ask those who ...

I bought a place three years ago and I’m thinking about selling it for a capital gain around 20 K my gross annual income adjusted is $50-$60,000. I am trying to figure out capital gains tax and what I don’t know is if...

I have some questions that I hope the BP community can answer for me.My elderly father has just moved into in a retirement home. He is weighing the pros and cons of selling versus renting out his home in the GTA. He o...