Elisabet E Manasanch
Tax deductions and tax attorney recs Houston
I am leaving my primary residency and will start renting it as short term rental starting in mid January. Can I carry over deductions for furniture and everything I’m paying to get the house set up from 2019 to 2020 t...
Mindy Jensen
Can Rental Income Qualify Me for a Self Directed-Solo 401(k)?
If I have a rental business, can I use that income to qualify me as self employed so I can set up a self-directed solo 401(k)?
@Dmitriy Fomichenko @Seth Tandett
Ian MacDonald
Do I need 100% of the home price to use self-directed IRA?
Hello, I have a decent amount of money in my 401k from my last company, one that I departed about a year ago; around 200K. I am interested in moving it to a self directed IRA to invest in real estate. I have seen c...
Gabe C.
Qualifying for a Solo 401k
I talked to the always helpful @Dmitriy Fomichenko a while back about SoloKs, SDIRAs and Checkbook LLCs and despite the SoloK being the obvious best choice, I came to the conclusion that since I don't make any schedul...
Brian Roberts
need some accounting advise!
Any advise on how wholesalers can claim a W2 income to build credit and establish a paper trail of legitimate income. I know some have set up an LLC and pay themselves a salary out of that corp each month. Is this a ...
Jack Zhuang
If my CPA would told me last year...
Hey BG community,It's that time of the year again for taxes! Since I only had a W-2 and one rental property income, so it looked straight forward enough to do it all by myself on TurboTax, right? By pure procrastinati...
Jean G.
Making a private loan out of SDIRA to the buyer of a property I own
Hello,I have an interesting idea to deploy funds from my self directed IRA (SDIRA) into mortgage notes, which I determined is a good way to invest my IRA funds.I understand that I am not allowed to lend funds from the...
Ryan McBride
Tax deductions when running errands for my properties
During the first week of the month, like most landlords, I'm tasked with collecting rent, paying bills and utilities, and as always, looking for more property to acquire.
I have never expensed lunch when i'm out and ...
John D.
Can I create a Solo 401K with only rental income?
I rent out the in-law unit in my backyard. I also have a full time W2 job. I want to roll over my former employer's 401K into a solo 401K so I can more flexibility wrt investments. I don't want to put my rental income...
James G.
Purchase the LLC rather than the Real Estate?
Hi BP. I’ve been in contact with a new lender who is telling me that there is a strategy that he uses where he buys out the company, rather than the real estate itself.. he says this way, the lender can give me a loan...