Hou Chia
Location-independent tech professional looking to house-hack in any tax-free US state
If you were a single, self-employed, and location-independent worker, how would you go about identifying the best house-hacking opportunity in a tax-free US state? Ideally, I'd like to use a FHA loan to purchase a mul...
Account Closed
Calling all w2 professionals! What if you could pay ZERO in tax for 2024?
If you have ever used an AirBnB and are interested in investing in real estate, this post is for you! For individuals navigating the demands of a w2 job and grappling with substantial tax obligations, exploring the po...
Algerson Andre
Identifying a new CPA in a new market?
Hello Everyone,
With tax season right around the corner, my wife and I are looking to get the ball rolling on finding a CPA before tax season ramps up. Our property is in the Buffalo market, but I was wondering how f...
Jason Powell
Can RE professional take passive syndication losses?
I classify myself as a real estate professional and understand what that means. I own rentals directly. I invested in many syndication deals in 2019 that generated over 100k paper net losses. Can I write this off agai...
Eric Zawadski
Partnership Tax Question
My brother and I “co-own” a triplex we just bought. Technically I own it, but we will be splitting all expenses, mortgage payments, rent, etc. All of the rent goes through me first because I am close to the property a...
Eric Buss
Need to Learn About House Hacking Taxes
Hi everyone! I got into house hacking without knowing it was a thing. My property has 2 studio ohanas (in-law units) that are almost covering mortgage and other expenses. I include utilities in the rent (rental units ...
Matthew Trinh
Special case: How to correctly file rental income tax?
Hi all!
My father and I started a rental business beginning a couple years ago. He lives in another city and wanted to invest where I am currently living. As a result, I manage all the finances and properties. We hav...
Toshiki Hoshino
Refinancing UBTI Questions.
Hello BP,
What are you tax consequences on below situation purchasing property under Checkbook LLC.
Purchased owner financing commercial property with 2 partners (33% ownership each) for $1,250,000 with down payme...
Ronald Hayden
Tax benefits to owner occupancy in California?
My business partner and I are evaluating the possibility of purchasing the home that one of us is renting, due to the owner needing cash.Can anyone provide a pointer/advice on the tax benefits of owner occupancy for a...
Stevee Danielle
Tax question on sec 469 for short term loophole
Can anyone tell me exactly what part of sec 469 of the tax code that explains what qualifies you as a real estate professional? I am having a disagreement with my CPA. He says that you have to have a 7 days or less on...