Hisham Ahmed
IRS Question for wholesale business
Hello everyone,
I just about to form an LLC in TX to do property wholesale, and I was wondering if I need to get an EIN number from the IRS for the business.
Is this kind of business taxable and I will need to file ...
Dmitriy Fomichenko
Self-Directed Solo 401k for Real Estate Investors – Q&A
Over the years I’ve seen many questions here on BiggerPockets forum related to various aspects of using self-directed Solo 401k real estate investing. But the challenge is that those questions are spread out across pr...
Lana Lee
W-2 income is more then 150k. How to qualify as RE professional?
My husband's W-2 income is projected to be more then 150k. I've heard that it's not possible to take passive loss in that case. I am not employed currently and heard I can qualify as RE professional if certain amount...
Dale Osborn
Principles of Work
I just finished reading a book about certain principles of work that was found in an anciaent manuscript. Following are these Principles:
1. Principle of Work: Work or you do not eat. A lazy man should be shunned.
...
Joel Owens
Tax Question
So taxes is one area where I really need to get more info on.
1. Does it matter if your tax attorney or CPA is local to you?? Can they be in another county or state and it can still work??
2. What is the difference ...
Swetha Ramaiah
Rookie investor looking for Out of state investing and Mentorship
Hi all, I reside in Bay Area, CA with a full time job in tech and been 2 months since I started reading and breathing BP podcasts/books on real estate. I did some research on out of state markets and some practice dea...
Victoria Creighton
Backdoor self directed Roth IRA
I recently moved a pension from a previous employer to a traditional self-directed IRA. I now plan to convert this traditional IRA to a Roth IRA to take advantage of getting myself a tax shelter I wouldn't normally qu...
Lance Mundo
Proving 750 hours for deductions
How can I prove 750 hours of work, and more work than my W2 job in order to qualify for maximum deductions when filing my income taxes? I want to reduce my federal income tax to zero. Are we using a time log? What is ...
Account Closed
Breaking into the industry
I am looking to break into the real estate industry as an analyst. My goal is to get an analyst type role and learn all I can while making industry contacts. Once I save up enough money and have built up enough cont...
Rick Wang
LLC or personal?
Im in talks to purchase a mixed use commercial/residential building. Any advice with regards to creating a LLC (or other corp type) or to just personally add it to my own portfolio? My personal portfolio is getting a...