To the High W2 earning BP members out there, what strategies have you used to decrease your W2 taxable income? Depending on what state you earn your wages, income tax rates of 40-50% are unreasonable. Most of you like...

I am looking to buy a rental property turnkey. I understand some tax benefits should be money I used on maintenance and the mortgage, but the biggest one depreciation seems to be out of reach.Do most people still use ...

Hi,I am interested in my first investment property but I am trying to understand all tax pros/cons beforehand.Let’s say I get paid through a w2 and also 1099 (self employed) and I have to pay about 10k annually on tax...

I was listening to an older episode of bigger pockets today and they brought up the discussion of a negative cashflow rental, specifically in the context of turning a principle residence into a rental property. I coul...

First off, I’m not trying to do anything illegal I’m just asking if this is a plausible scenario.Also, I believe my title should read dependents instead of deductions. Sorry. I have a W2 job and one rental property. ...

We are hearing about some municipalities and counties across the country halting evictions because of the Pandemic.  OK, I get that.  Don't like it, but I understand.  So the next question is: will mortgage lenders al...

Hello everyone,I live in California but I recently sold my rental property in Ohio. I experienced a loss in terms of property sale and operational costs (managing and maintaining the property etc). Does anyone know wh...

My wife and I have been interviewing financial advisors lately, all CFP's from reputable firms, and all fiduciaries. We've reached a point where we have enough income from our day jobs that we feel we need some help d...

I want to take funds out of my 401k to help start my first investment. I will be paying back into my 401k over 3 years. Will this be a wise decision? Is there a way to take funds out without getting hit with taxes?

Hi All,

To be brief, after 6 months of poor quality work and poor business practices, my general contractor for our home remodel project seems to have walked off with our money and a highly unfinished house.
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