Edward Casano
Calculating Property Tax in NYC
Hi All,I recently began my search for a multi-family property to buy and hold in NYC and have been getting caught up in the tax calculations. I worked with a couple different lenders and they didn't completely underst...
J.P. Ventura
Should I Elect to be an Independent Contractor or an Employee?
I have the option of being hired as an employee or independent contractor. I am wondering if any local accountants or CPAs in the DC / DMV area have any advice as to which I should choose. I am going to a direct lendi...
Martingale Kim
Tax form for Corporation registered in Delaware
I registered a corporation in the state of Delaware this year and just filed DE's annual report and franchise taxwhich form I need to file for federal tax? is it 1120 only?I don't have any sale for the year 2021 so th...
Spenser Murphy
Buy wholesale for rental properties?
I search MLS and Redfin daily for multifamily properties. Decent duplexes go for impractical prices. The retail prices cut into the cash flow. You can't do anything about property taxes. Is buying at wholesale a cost ...
Andrew Yu
How to Sell Turnkey Property Fast
I just finished remodeling a property. However, I put quite a bit money in it and I wanna avoid the short term cap gain. So I decide to rent it for about 1 year then sell the turnkey. For those of you with experience ...
Mallikarjun Reddy Pateel
Property Taxes input?
Hello Chicagoans,
we are looking at a couple of Multifamily properties around Chicago, wanted to clarify a few things about property taxes and Valuation.
1. I see cook county calculates property taxes on a 3-yea...
Jordan Shutts
Texas Property Taxes
I'm currently acquiring single family rental properties for clients in Texas. In my evaluation of these deals I pull the last tax bill to find the millage rate. Should I be multiplying the millage rate by the ARV, pur...
Rachid B.
Capital gain tax 5 years rule question
Hi everyone, I would appreciate if someone can answer this question for me.I bought a house in Houston in March of 2012. We lived in it for two years and been renting it since.I am selling my house next month which wi...
Saqib Raja
Should I withdrawal my 401K to expand real estate portfolio
Withdrawing 401K entails a 20% tax cut and 10% penalty fee but I want to use it to being my real estate journey and exit my 8-5 in the next 2 years. Any thoughts if this is a good plan?
Jered Collins
Question to recaptured depreciation and capital gains tax
Perhaps this subject has been discussed in depth before but I want to reinvigorate the importance of understanding the effects of recaptured depreciation and capital gains tax on sale of multifamily properties. I've ...