Tim Lynch
Reinvest Gains VS 1031 Exchange
From a tax perspective are there big differences between a 1031 exchange and reinvesting gains within the same tax year? I buy and sell property with an LLC and just closed on a flip with a $60k profit. The sale price...
Michael Klinger
Changing gears from a flip to a house to live in?
I wonder which BP forum this question is best suited for? Suggestions appreciated. I think it's mostly a tax question?Here's the sitch...We took on a significant single-family rehab that for lack of a better term, "ha...
Len Antonelli
Flipping: best entity to purchase & tax and financing questions
I'm a full time realtor who has helped investors find and sell dozens of homes. I have a background in General Contracting and I've extended my contractors to my investors who have been doing their jobs at contractor ...
Margaret Feit
Is a Non-Resident State Tax Return Required for a Net Loss?
My husband and I have an LLC (taxed as partnership) located and registered in GA (where we live), which had an overall net loss for 2018. We also have a subsidiary SMLLC (owned by the partnership) that is registered i...
Kelly Byrd
LLC before closing or after?
Yea! More LLC questions! Everyone loves LLC questions! Right? ;-)In an effort to get specific answers, I'll try to be as specific as possible about my situation:My wife and I are under contract for our first rental p...
Vince Coffeen
1031 LLC owned property into conventionally financed self-owned?
My wife and I just put our first rental property (condo) into our LLC with the expectation of finding and buying a new property to purchase with help from the proceeds from a 1031 exchange of the rental condo. We are ...
Dan N.
Personal tax benefits if property is under LLC?
HiI hear everyone talk about tax benefits and deductions (mortgage, depreciation etc) from owning real estate.However, what´s not clear to me is how can I apply these benefits and deductions to me personally if I plan...
Grant Shipman
Rental Income vs Property Management Income
My investment partner and I will own a sfr property soon. it will be in an LLC owned by both of us. We will split the rental income equally. however the ten percent we budgeted for property management will go to me si...
David Rende
Pay myself as a management company to reduce passive income
I'm trying to figure out the best way to reduce my rental income. I considered a sole proprietorship management company but it just seemed that that wouldn't be legit - maybe it would but I wasn't sure. My other thoug...
Jon S.
LLC declare as Partnership or S-Corp?
I have a new LLC. My prospective accountant has suggested that I declare it as an S-Corp. Would the income automatically pass through in an S-corp, to the members of the LLC? Is this good or bad, pros and cons? What a...