Does anyone have Legal/Tax advice? I'm crunching some numbers and would like to propose to my mother-in-law who has already allocated in her estate plans to gift our two daughters $30K each (x2=$60K) for their college...

I have a rental property with significant equity and good cash flow. I am thinking of selling two of the properties that have around 100k of equity and rolling the equity into something else, either the stock market o...

I see a lot of confusion on owing the IRS while under extension. Here's how the system works.
1. Extension that you filed on April 15 does give you time to file your taxes until Oct 15. But it does not extend the tim...

Purchased a lot and have been building a home for my family for over a year. I relocated jobs to be closer to the new location (2.5hrs away from previous location; St. Louis to Camdenton, MO). Home is getting closer t...

Hi all,I've struggled for weeks to get a definitive answer to this, and am hoping the magic of the BP community comes through here: how do I calculate a rental property's total depreciation amount from which 25% will ...

So “someone” has a business that is throwing out nearly 1.5 million dollars profit per year after reinvestment into business.  Now taxation is horrid in this income. 
So I can obviously lease the office building back...

In February 2024, I purchased a tax lien from Nassau County NY. A few months later, I received a notice to redeem letter from a 2019 tax lien holder. The owner has until November 29 2024 to pay the 2019 tax bill or th...

Hi BP community, I would like to form a real estate partnership with friends I've known for years to accumulate rental properties. My self included, there will be 4 members. This setup will allow us to accumulate...

I purchased my single-family home in 2018 when I was single. From the beginning, I rented out 3 of the 4 rooms while living in the remaining room. In June 2022, I got married and my wife moved in, and around that same...

I've done a few searches here, and I think I have a pretty good idea of what I need to do.

I purchased my first rental property about 45 Days ago and I'm still renovating the property.

I purchased the distressed REO...