I've always heard that I should use a corporation to reduce self-employment taxes while doing fix-n-flips.  However, I've heard that you only need to pay high SE taxes up to $130k.  If my W2 Salary is $130k+, then my ...

When using a self directed IRA as a down payment on a rental property, I'm understanding that any cash flow can't be touched for personal use (if that's not the case please chime in). What happens then if you wanted t...

We are in California, but doing business as a Wyoming LLC, how does this work at Tax time?(Tax deed investing...first year, all losses, but this year some deals in progress)

I will be selling some land that I own and am having trouble understanding the tax that will be due. I entered the figures into 2020 tax software but the amount due does not match my understanding of tax computation. ...

Hey guys when you fix and flip a house and make a profit what documents do you need handy when filing your tax return.?

Hi GuysMy dad and I are 50/50 Managing Members of an LLC (filed as "Partnership"). He is 62 and I'm 42.  A couple of years ago we just paid-off our bank loan, reduced our operating expenses to a bare minimum and are r...

Hey guys,I was wondering if you knew if that law has been accepted in California?They were talking about accepting it last year and it was something about: "If you own a property or business in California, you will be...

This is more of a tax questions that real estate, but the funds would then be investing in real estate.My plan is to set up a Solo401k before the end of the year, but have a few questions during the planning phase bef...

Tax deferral help needed:  I am a full-time W-2 employee and max out my pre-tax contributions to my 401(k).  I have a side-hustle real estate LLC that includes passive income from fifteen rental units as well as activ...

I just received some info that ObamaCare has a clause that will implement a 3.8% sales tax on any real estate transaction starting in 2013. Anybody know this to be true?
Don