Yuri Chernousko
Taxation for out of state properties
I live in California, and I have some properties in FL. Also looking into other states (mainly GA and SC). I have not researched it yet, but does anyone have advice on what I can expect tax-wise? Will California ch...
Daniel Dietz
Taxation of portfolio upon spouse's death?
Hello,We are in talks to buy a portfolio of rentals from an individual who's spouse recently passed away. They are considering doing owner financing and we have been talking about possible benefits or drawback for eac...
Richard Yukes
Taxation for the Active Land Seller
Over the years I have been told that if I were to sell a "High Volume" of parcels the IRS would deem me to be a dealer and profits on parcels held for a year or more would lose their Long Term Capital Gain taxation be...
Jenny Tools
Spec home liability insurance and taxation
Good evening everyone!I am starting out a partnership with a local builder to build speculatively on lots that I purchase outright. The builder is giving me a discount on the price of the build and I am in turn agreei...
Landon B.
LLC taxation if income not collected
Quick general question- If my LLC (s-corp) had profits last year from real estate sales, but I did not collect on any of those profits (ie what was earned stayed within the company account) do the LLC members still pa...
Ken Quella
Cross Year Taxation For A Flip?
Hello Everyone,Having trouble locating some answers on this. Answers on google seem to be a bit spotty. My business partner and myself purchased a property in 2015 and its going to market in a few weeks. We have se...
Julián Sánchez-Pinto
Taxation on a manager-managed LLC
Hello, A friend and I are planning on opening a manager-managed LLC to buy properties and rent them out. We are have to use a manager-managed LLC where my partner is the manager and I am a evasive investor. I have two...
Steve Christensen
Entity Set Up and Taxation Questions
I am sure this question has been asked numerous times on here, and I have read many forum posts. However, it seems like many of the answers come down to "what are you personally trying to do / what are your goals?" So...
Will B.
Taxation of Unrecaptured Section 1250 Gains
Hello!Set of facts:- Lived in a residential unit as a primary residence for a number of years.- Converted to rental and depreciated it for 2 years.- Sold in 2023.- Purchase price: $250k- Sale price: $350k- Depreciatio...
Account Closed
Taxation in California for investment property
I once lived in CA and in 1988 I bought a small 2 BR in a working class neighborhood. I have not lived in CA for 15 years. I sold the house this year and there was huge appreciation. The escrow company is insisting th...