Noah P Bonds
Cost basis after refinance
Curious about estimating long term gains tax on a property that has been refinanced. Suppose purchase price was 100k, then five years later it was refinanced for 150k and sold shortly after that for 175k. How would th...
Chad Mayo
Best Case Tax Situation if Selling House at 11 1/2 Months Owning
I bought a home on 8/30/19. It needed total renovation and it has taken up to now with all the Covid 19 issues/market etc. to complete. I have never lived in it and it is in my LLC. We are now under contract to sell a...
Ray Slack
Question New GOP Tax Bill on 20% income deduction 4 passthrough
Quick question.. below is the new proposed GOP 20% deduction for pass through businesses. Is this like a standard deduction? or a cap? So, I have a S-Corp that is a pass through so if I make $100k income and $50k ...
Andrew Gingerich
529 Tax deduction to offset rental income in MI for out of state
Hi there, I am seriously considering buying an investment property in Michigan north east of Detroit. I am wondering if I put the cash flow from the investment property into my children's MESP 529 account can I reduce...
Hiroki Cibulka
Capital gain tax question
I have a question regarding capital gain tax.ExampleBought 50,000Sold 100,000 Own it for 17 yrsWill buy another property (50,000 is a down payment)Will invest REIT for 50,000How much do I have to pay Capital gain ...
Ilse Martinez
Refinancing and pulling cash-out from Rental to payoff my Primary
Hello,Since the new tax rules I've been considering refinancing and pulling out cash from my rental to payoff my primary home so I can claim a higher interest rate on schedule E and benefiting by reporting a loss on m...
Michael Vazza
Boston Residential Tax Exemption
Speaking with many
buyers in the Boston area, a lot are unfamiliar with Boston's Residential Tax
Exemption. This is a great tax exemption to take advantage of for an owner
occupied unit.
A quick few points:
...
Armand Farr
Deductions that flow to personal income
Hey guys - I work full time and I'm looking at buying my first rental, holding it within an LLC.I know investment property mortgage interest can be a deduction against my personal income (even if the property isn't ca...
Account Closed
Income tax when assessing deals?
When initially assessing a deal, how should I account for income tax on the rental income? Without an accurate number for write-offs I'm having trouble putting any faith in my calculated ROIs.Thanks!
Kyle Pierce
Any way to lend and be taxed at less than ordinary rates
Hi BP,
I have a question about private lending. I have a lender who wants to lend me 100k to use in our flipping business but was wondering if there was any way to structure the deal so the interest that he receives ...