Mark S.
Qualifying for a Mortgage with Small Business Tax Deductions
Hi,I am a rather new investor with two duplexes in the DFW area. I also have a small photography business which helps reduce my personal taxable income. The question I have is do I have to be careful about how many e...
Nick B.
COVID-19 IRA withdrawal
Hello BP,I am considering withdrawing money from my IRA pursuant to CARES Act. According to the Act, one has to qualify to be eligible. Besides the obvious qualifiers such as being infected by the virus or losing a jo...
Arthur Schwartz
How do rental losses work if income is over $150?
Hi there! I am interested in how rental losses work if income is over $150K and if not a real estate professional. First, I suppose that these losses can be carried forward but how are they eventually taken? Only i...
Dirk S.
Tax implications on sale of principal residence
Hi
I own and lived in my principal residence for over 20 years and a significant capital gains.
1 If I sell my principal residence I pay no tax on the first $250k of capital gains (filing single), but if I have ad...
Loan Tran
Lessen 401k contribution and use it for rental property!?
Does it make sense to lessen my 401k and use the extra monthly money to invest in rental property!?
AJ Wong
Why large Investment Property HELOC's are hard to qualify for and what to do instead
We've seen tremendous interest from investors seeking larger balance investment property HELOC's or home equity lines of credit. Understandably, investors are looking to tap or access increasing equity positions, many...
Felicia West
Help with understanding appreciate
Hi there! I’m a beginning investor and am trying to wrap my head around the tax benefits involved with real estate. My main question is regarding depreciation. My husband and I are high wage earners, so from what I...
Brian Ristola
Passive Loss
Upon last years annual trip to the accountant, our acct. recommended investigating rental property. I was whining about how much of my businesses profits are eaten in taxes (I am self employed). He said several of...
Jon Taylor
I own the business and the building (2 LLCs)
Hoping you tax strategists can help me think through this…I am the owner of a business and the only member in a separate LLC that owns the building.I am in a position to be able to decide how much rent the business te...
John Grover
How to minimize tax on flip gain
I am curious what vehicles are being used to not pay capital gains tax.
Situation.. flipped house with LLC, will have six figures at closing in a couple months. Will I be relying solely on the expenses I can run t...