Katherine Robbins
Flipping LLC being taxed as SCorp
Hi everyone,
I own a development company that primarily flips houses in MA amongst various other GC and design work. When we started a year ago and a half ago, we were told to structure our business as an LLC and ele...
Account Closed
Need Advice about LLCs - foreign vs. domestic (CA resident)
Hi Everyone! I would appreciate if any accountants, lawyers, etc. can shed some light on the implications that arise from being a CA resident who invests out-of-state through a business entity such as an LLC.
I want ...
Eidref Laxa
Grandmas House in Mountain View CA Quitclaim Deed then Refi?
We are entertaining the idea of purchasing my fiancee's grandmother's home in Mountain View, CA. This house is in a PRIME location, walking distance to google. COMPS are going for 1.2-1.4 mil ARV. We want to present t...
James V Sciales
My CPA is very vague.. is this normal???
Hello I am a young entrepreneur. This year I have done pretty well and am blessed and burdened to have quite a tax bill coming in April of 18 looking to be around 40k When asking my CPA what I can do with the money to...
Jay Kysha
New Member Checking in - Ohio
Hey everyone - finally decided to join up after listening to a fair amount of podcasts on my travels. Looking to get involved in building a small residential portfolio to eventually combine in an aggregate sale for on...
Jake Paul
Co Own - Who would be taxed on capital gains?
Sorry I am sort of new to this. Need advice!I co own my primary residence with my brother 75/25 (On title). I’ve been living there for 2 years and he lives elsewhere at his primary residence. We want to sell the prope...
Eric Smith
1031 exchange with a related party
Hi, we are trying to do a 1031 exchange by selling our rental condo in exchange for a single family home rental. Our condo would be sold to an unrelated party. Our new single family home rental would be purchased from...
Mary Burns
1031 exchange with related party
I would like to sell a rental property and do a 1031 exchange to buy a property from my mother's estate (I am a beneficiary). I just learned this might be an issue due to related party.
Guevara M.
Should I be taking a depreciation on my rental?
I bought a rental (Town Home) back in 2004 & have been taking a depreciation so that I could get a bigger tax return. The CPA that did my taxes this year advised me that I shouldn't be taking a depreciation if I ...
Darren Looker
Private money lender taxes
I recently converted my primary residence into a SFR and completed a cash out refi. I plan to invest some of the money in a business doing flips and remodels with a partner. Are there any strategies to avoid my profit...