Matt Jamieson
Capital Gains Tax Exemption on 2 Homes?
Hi All!Google Search came back with, "When does capital gains tax not apply? If you have lived in a home as your primary residence for two out of the five years preceding the home's sale, the IRS lets you exempt $250,...
Larry K.
How to refi a rental without a W-2 type of job?
As I have heard, traditional lenders (banks, S&L's) want you have a W2 to refi a rental (ie long term 30 years, 75 LTV, 5% at this point in time).
What are your options if your employment situation changes? Th...
Shay Reynolds
Austin market
I am located in Austin, Texas and I see many opportunities in the area for investment.
Do you know what tax liabilities I will have with selling tiny houses? Is the Texas market strong enough for a niche market? Wh...
Shane L.
Seller financed mortgage
My wife and I bought and sold commercial property. I forgot to transfer the title to our LLC prior to the closing of our seller financed mortgage. All monies received have been collected by the LLC and an assignment o...
Darren Lam
Going separate ways with 1031
My brother and I recently inherited a property and we are looking to sell it. We own 50% each but want to invest separately moving forward. Can we both do our own 1031 on separate properties? Or can I do a 1031 and he...
Michael McCalla
What's the best process to form NYC real estate investment LLC's
My wife and I have 2 multifamily properties in NYC. I need to create LLC's for both of them to protect our personal assets. I am confused on how I should proceed. I've looked dup the process on Legal Zoom as well as a...
Arthur Neves
Canadian investing in US. Should I open a LLP?
Hi, my wife and I live in Canada. She is buying her first property in the US to be a rental one. She will probably buy more 2 in the short term and thinking in doing more of it in the future.
Now the question is: what...
Account Closed
Do we really get tax benefit for rental property?
Lets assume a Scenario: A new investor who invests $150K on a first rental property. No other retal or home mortgages.
IRS: US govt already allows a "Standard Deduction" of S24,400 (Married joint filing). The other o...
Jane Z.
Hiring kids for a rental LLC
Hi,I have several children related tax question. After consulting with my CPA, I am now confused. Here is my situation.My husband and I set up a rental LLC several years ago. The same CPA told us since only my husband...
Blanca Cortes
Uncertain feeling about irs return tax person and my section8
I'm a Section 8 tenant I got a person to do my taxes I did the non-filers when the first stimulus was announced I filed it twice and certain I messed up. I got my stimulus for 1700 second for 1400 then the 3rd 2800 ...