Alan Williams
1031 Exchange For SoloK Property
Modeling a potential [transaction] scenario and would appreciate feedback/insights on legal and/or tax implications as well as whether each of the options for the overall transaction makes sense ...Property 1 is value...
Benjamin J Haithcoat
How to deal with taxes from income procured from wholesaling
Hello,I am a new-comer to investing. I plan on wholesaling at first to build up my capital while at the same time growing my network and learning all I can about the business. While my plan isn't to remain a wholesale...
Lance Lvovsky
BREAKING NEWS: Additional Tax Relief for Hurricane Victims
A bill passed the House yesterday that would grant additional relief on top of what the IRS granted immediately after Hurricanes Harvey, Irma, and Maria. As some of you know, immediately after the Hurricanes, the IRS ...
Mike Cox
Rental Near W-2 Job Mileage Deduction
My rentals and W-2 Job are close to each other and both are like 25 miles from home. Say for example I go to work (W-2) and then go to rentals after work, how would I claim the mileage. Can I claim the distance from...
Cooper B.
How to report profits from a flip with a partner
First off, I apologize if this has been discussed in another thread but I couldn't find anything that addresses my particular situation.I am seeking advice about how to report the profits from a flip with a partner. ...
Bob Metry
Deprecation Recapture Tax Rate?
How do you determine the the tax rate for depreciation recapture? When you recapture the depreciation when you sell a property, is the recapture tax rate based on your ordinary tax rate at that given time? For example...
Wayne Brooks
1031 Exchange question-condo conversion
@Bill Exeter @Steven Hamilton II, other experts....I think I know the answer, but want to verify. Apparently his current CPA thinks Yes to # 1).Owner has owned 5 plex for 30 years. He thinks he can convert to condos...
Nick Lawler
Rental Income Taxes
I am currently house hacking and renting out a couple bedrooms to some Navy friends but do not have them under a rental lease, however, I collect rent on a monthly basis. I am not sure of how this will affect my taxes...
James Park
Best and Worst States for Taxes for Retirees
Interest article published by Kiplinger for the most tax friendliest states for retirees. The darker green states are among the most tax friendliest states.http://www.kiplinger.com/tool/retirement/T055-S001...
Georgi...
Doug Henderson
Tax advice for private money’s lenders
Borrowed private money to do several deals this year. Paid them all back their principal plus the agreed upon interest. For tax purposes what should I be doing to report. Do I need to issue them 1099’s showing the amo...