William Leahy
New Federal tax bill and the second home market
Greetings BPers, I'm curious to hear opinions from those of you in vacation markets on the effects of the new tax bill on the second home market for 2018. My gut tells me that retail buyers will hesitate and put down...
Account Closed
Capital gains taxes on a flip - state vs federal
Hello!While building a financial model, I realized how mediocre my understanding of taxes are.Assuming a flip is done in less than a year - so short term capital gains - what are the taxes to account for?My current as...
Nick Naik
New S Corp tax filing state(Georgia) and federal requirements
Gurus,
Need some advice on year end tax filing for S Corp based out of Georgia. I have a new LLC structured as S Corp and need to file my year end taxes. Couple of questions1. Is Turbotax Business a recommended tool ...
Shawn Z Stewart
Has anyone explored buying solar credits for your federal taxes?
I am interested in finding out if anyone else has explored this as an option or pursued it. What they are telling me is that they have an excess of solar tax credit and they are willing to sell them to me at $.90 on...
Chris Allen
20,000 dollar federal tax lien on off market wholesale deal
Hi, Bp forums I have a very good off-market potential wholesale deal, the problem is the property has a $20,000 federal tax lien (1040). I know with property tax the deal can still close but is that the same with a f...
Carlos Varum Jr
Federal Tax Credit - Solar Panels - Is my Math/thinking right?
Good morning,
Thanks for taking the time to read this and help me wrap my head around this.
So with the recent legislation, my understanding, is that there is a 26% federal tax credit for the purchase AND installati...
Brian Welch
Do I really need a federal tax ID and LLC?
We are just starting out and hope to get our first flip property in a month or so. We established an LLC in our state but do I need a federal tax ID if I want to set up a bank account just for the LLC?Thanks for any ...
Jerome Ramirez Guerrero
Is your monthly rent income tax at the federal level ?
Hello everyone,
For those of you already in the game and receiving monthly Payment(s) from your property(ies) What is the tax percentage on that cash flow?
Thank you!
Alex Lee
Real estate professional status to offset federal and state taxes
Hello,First post in this forum. I am looking into becoming a real estate professional to grow my portfolio long-term and to reduce my earned income tax %. Would becoming a REP and materially participating in rentals r...
Tobias Falzone
Will Proposed Federal Income Tax Reform Tank My Cash Flow?
Ok, so I just had a literal tax nightmare last night, awaking from a deep sleep in a cold sweat. Here is what has been keeping me up at night lately. There are a few proposals for income tax reform that I have been ...