John Hylton
Capital Gains primary residence
Hi guys,
We bought a home last year (essentially a long term flip), and we decided to make it our primary residence for a bit. The reason was two-fold; it met our current needs as well as would keep us from paying ca...
Brandon Gentile
1031 exchanges going away?
I heard some rumblings out of NAR (National Association of Realtors) that the industry was looking to do away with 1031 exchanges. I didn't know if that was in Michigan or nationally but has anyone else heard of that ...
Ras U-Ahk
Deed Transfer (first time)
So my farther is looking to transfer his property in New York City to me. The property is a single-family that has about $150,000 left on the loan and is currently worth over $500,000.I have never done a "gift" prope...
Scott Littlefield
Tax implication for a RTO down payment.
I have a lease agreement with the option to purchase on a house I own outright. The lessee paid me $3500 downpayment and is paying $516 a month. He has an option to purchase by the Spring of 2022 for $59,000 minus the...
Troy Sheets
Newbie again in Philadelphia
Hi all, looking forward to getting back into the RE game and found this site through Brandon Turner's site and it feels like home already!!! So, a bit about me, I bought my first home, a fixer-upper, in '97, followed ...
Yong Jin Lee
?: Tax Deduction on people who are on W2 and do the rental property Investing
Hello! My wife and I are both W2 employees. We are carefully looking into starting rental property investing. However, one of our objectives is to reduce the tax burden we face on our W2 income. However, a local real ...
Account Closed
What is Sweat Equity Taxation in Real Estate?
Sweat Equity Taxation in Real Estate Investing:
Real estate investment is a time-tested method for wealth creation and financial stability. While many investors use cash to purchase properties, others opt for a diffe...
Anderson S.
Stop Overpaying Taxes! 5 Insider Tips for Real Estate Investors
5 Tax Mitigation Strategies Every Real Estate Investor Should Know
As a real estate investor, every dollar you save in taxes is another dollar you can reinvest into growing your portfolio. Yet, many investors overloo...
Byron W.
Can I use check copies & credit card statements for expenses?
I'm living in a tri-plex house hack. Renting out 2 units and living in one. This is currently the only property I own. I've had work done on the building itself (roof repairs) and remodeling work in one of my previous...
Philip Hy
Are accountants are worth it? Change my mind.
While I greatly respect accountants, I want someone to explain why they're worth the fee for 90% of buy and hold investors. This year my refund was $3,800. My total tax prep fee was approx $4,200 (not unusual if you a...