Jennifer Jackson
Anderson Advisors - C-Corp
Hello!I live in Minnesota and am a new investor and new to everything. I am confused and unsure of what to do. I am trying my best to educate myself, but when there is conflicting information, I second guess everyth...
Account Closed
Softening the Tax Blow of Early 401(k) Withdrawal for REI?
This is more of an Accounting question but the REI aspect of it does warrant discussion IMHO. I have a sizeable 401(k) that I would like to take a distribution on so that I can use it as after tax dollars in order to ...
Account Closed
Where to put profits from my home sale?
We will have a few hundred thousand dollars to invest after our home sale. Not only do I want to avoid paying taxes on that money, but we want to invest it as well. Initially, we would need access to approximately $50...
Anisha Spand
Legal Structure for IRS
My husband and I just filed our Articles of Organization with the state of SC for our LLC and now I can apply for the EIN. I don’t know whether to do LLC, partnership or corporation. The business is for wholesaling an...
Andrea Hauserman
Selling the LLC vs individual properties
On behalf of myself, not my work as an agent (thank you moderators), I'm looking for information about any consequences or considerations when selling an Ohio single man LLC with it's own tax ID that holds multiple re...
Kendra Ellis
2018 Capital Gains Rule Change
My CPA is telling me that I can no longer sell my primary residence after 2 years to avoid capital gains tax. Is this true? Our 2 year anniversary in our current home in next month, we are ready to pull the trigger an...
Robert G.
1031 exchange ?? Selling primary residence
Hi all,
I am currently listing my home for sale (lived in it for 18 months) with my realtor and plan to net approximately 61K after closing costs etc. I want to take a portion (or all of it), and put 20% down...
David Robertson
How to avoid closing costs on foreclosure?
I am currently looking at buying a foreclosure from Wells Fargo as my first investment property with the prospect of flipping the house. Is there a way to avoid dealing with a Realtor and dealing directly with Well...
Jacob Fitzgerald
Taxes on selling a new build
I want to build a home and sell it.... My question is is there a way I can move the taxes into another loan or something so I don’t have to pay the Fed upfront? AND If I’m building one or two homes a year should I get...
Kadia Lawrence
Using IRA to fund deals and offset penalties with RE tax breaks(??)
Has anyone taken their IRA to fund deals and offset the early distribution penalties (10% and tax bracket) with RE tax breaks? What kind of tax breaks helped (e.g., depreciation, real estate professional status, etc)?