Thomas Gagnon
NEED TAX ATTORNEY CPA ADVICE, TRAVEL TIME FOR RE PRO TEST
Im reaching out to all the real estate tax attorneys lawyers CPA etc.
I want to start by saying that I have contacted both tax attorneys and CPAs in my local area and have not made much progress after those meetings,...
John Moss
How to invest $50,000 at age 49? In Michigan
I have $50,000 saved I am age 49 live in Michigan, how should I start in real estate?
Hetal Patel
Business LLC for Rehab to Rent
Hi Guys,
Looking to do a BRRRR. Do you guys do the buy and reno in one LLC (S-corp) and then transfer to another LLC (PASSIVE) for rental income?
How do you transfer after the reno into the passive rental LLC?
Look...
Gary Li
Can I convert Rental Income from Schedule E to Active Income on Schedule C?
I have several Rental Properties owned by my wife and I, we manage by ourselves, so we have positive Rental Income on Schedule E. but negative Income on Schedule C, can I put $3000 Property Management Fees as expense ...
Scott Webber
Protecting Housing LLC's in Prenup from Divorce
I'm in the process of drafting a prenup; I currently have two LLC's, with a total of five houses combined valued at roughly $900K, half of which is mine, half belonging to my business partner; I also have two rental p...
Johnny Situ
Can I qualify as real estate professional?
Hi BP folks,I ran a real estate software company last year and probably spent more than 750 hours on building the software. The software allows real estate investors analyze rentals and flips etc, can I qualify as a r...
Fred Stevenson
Allowable tax deductions
I'm an active investor, but I don't qualify as a professional REI. I'm trying to understand what types of business related expenses I can deduct. I have created an LLC that I will be using to buy my investment prope...
David Beard
Rental Property Tax Questions
OK, tax pros, please answer these scenarios for a buy-and-hold investor that materially participates in their rental activities:
1) You draw down on your personal residence HELOC to finance a rental property. You d...
Roy Williams
Real Estate Professional - IRS Audit
Hi Folks,
Our friends at the IRS are auditing my 2009 return, mostly because of my real estate professional designation.
I have a full time job and the rentals take up all of the rest of my time and I easily spend mo...
Paul J.
LLC structure and property management
I bought my first rental property over the summer and have been operating it remotely from out of state.
I have a very old friend of mine who, like me, is new to Landlording and Real Estate investing who is...