Account Closed
Am I thinking about the tax benefits of renting real estate correctly?
Question on rental income taxation:Thank you in advance if you can clarify if I am thinking about this right or not...-Assume I own a rental property in my LLC.-The property earns 2,000 in net rental income after payi...
Angie Brown
What effect will rental property have on my personal income which is over $150k?
Hubby and I purchased one duplex 6 yrs ago. After mortgage payments/insurance/taxes/expenses. We are at 0 profit at best, some years have been at a loss which helped cut our personal taxes.
Want to purchase 2nd pro...
Joe Wood
Inherited IRA Withdrawal Questions
Hey Guys,I recently inherited a traditional IRA (Non-spouse) and would appreciate additional feedback from those who are familiar with what options I would have. I am looking to pull out about $100k right now in order...
Derron Taqee
Was Kiyoski right when he said a business owner can pay themselves first and the gov taxes whatever is left?
So I just finished reading Robert Kiyosaki's Rich Dad Poor Dad and he stated something about how business owners pay taxes vs how 9 to 5ers pay taxes. He says 9 to 5ers pay the gov first in taxes and they get whate...
NA Jones
Tax implications of selling stock to buy property
Hello! I apologize in advance if I'm not using the right lingo for my question.. still new at this :)I'm trying to figure out the tax implications of cashing out stock and using it to buy property. Even though we'v...
James H.
Business Retirement plans and deductions
Hello. My fiance has a house in her name that she would like to rent out in the near future. I've read about transferring to an LLC but most of the conversations deal with liability and not tax, which is my primary co...
Sarah Davis
Tax Strategies for House Hack + Rent by Room
Howdy all, I just acquired a duplex here in Austin, Texas and I'm trying to set up my books where I'm keeping track of things appropriately. I will be renting out the other side plus one room on my side. I'll be addre...
Chris Redmon
Rental Income Tax Makes Me Hesitant...
Hey everyone!This will be my first post so i apologize if its being stuffed in the wrong area of the Forum. My name is Chris, I just purchased my first home at 26 as a personal residence. Ive always been a believer in...
Kyle Guida
new investor, but need help and strategy
Hello alll, my names kyle and im from IllinoisI am looking to get started on my real estate adventure to freedom. Im in the midst of purchasing my first home after what feels like searching forever. a little about mys...
Jorge Alcaraz
Advice/CPA for House Hack STR
Hi I’m wondering if anyone has tax experience doing a short term rental in a house hack? I just purchased a duplex as a house hack and I’m looking to use the short term strategy to deduct against my W-2. Has anyone do...