Tania Reuben
STR Accounting IRS Structure Question
We're planning to STR a cottage on our personal property.My question is from a structure standpoint, can we rent the cottage through one of our corporations, or do we rent it personally. I know one other family that ...
Dani Zee
How to structure one separate entity for marketing different rentals (held in LLCs)?
Hi, I've searched everywhere for hours can can't seem to find a good answer to this question. If I have different rental properties, each owned by a different LLC, what's the best way to market and do business with m...
Lance Lvovsky
Tax Reform: IRS clarifies interest on HELOC often deductible
There seems to be confusion regarding how the new Tax Laws affect the interest deductibility of home equity loans and HELOCs. A lot of folks think the new laws do not allow deductibility of interest on their HELOC. Wh...
Mike Carroll
Cash-out refi/Home Equity Loan
I recently built a vacation home for short term rental purposes in Bethany Beach, Delaware. I also built an in-law suite for my wife and I so we could house hack the property. After 2 extremely successful seasons, we ...
Matt Messer
Negative Cash Flow on MFH
I am looking at a fourplex, that is listed at 117,000, Just based on Realtor's numbers and condition I would be looking to get the property around 105,000. Realtor said it would gross $19,479 yearly. I requested Sc...
Vic Vega
Pay more to buy and hold?
Hey Everyone!So I'm new to real estate and have a question. I'm looking to flip but am certainly open to buy and hold/rent. To me it seems that when looking at a foreclosure that it makes sense to pay a little more if...
Eric Gabriel
Need New CPA for Multi-State Return
I invested in a fund that invested in several states. As a result, I got a tax bill from my CPA for my business at $1600 (last year $500) and personal $1300 (last year $300).
I have...
-1 rental property in Por...
Beth L.
Questions--How to use a Property Management LLC as the "face" of my rental business
So currently we have a number of duplexes being held each in its own LLC, with separate bank accounts and everything. I feel that before this venture gets too large, that I should create a Property Management LLC to b...
Greg O'Brien
PPP Forgiven Funds are NOT Deductible
IRS released guidance yesterday saying that any PPP expenses that are forgiven are NOT deductible for Fed income tax purposes. In essence, the forgiven funds are taxable, in direct conflict with the Cares Act. Congr...
Jerry Gandolph
Best way to handle taxes on Flip house
Hello,
Im closing on a property today that I intend to flip for a profit. I bought the house via forclosure for $115k, will put about $20k into it and will list it for $225k. Im curious what is the best way to approa...