Brittany Olofsson
Retirement money to start investment business
I am working on starting my rental business and have saved some money. I recently had a family member pass away and left me money in their 401k account. My question is if I pull the money out I will be taxed at my bra...
Jon Delarosa
Taxes in Operating Expenses
Hello,New to this experience and learning as I go. Looking to turn my residential property into my 1st rental property and trying to look at numbers to see if it makes sense. A book I’m reading mentions “taxes” should...
Jeffrey Townsend
Keeping all the profit.
BP family, If I was to purchase a home to eventually flip (house hack) how long would I need to live there in order to not get Tax's taken from the flip profit?
Zev Dobuler
Anyone ever purchase for low then share upside with owner?
Hi Everyone, I’m investing in Fix & Flips in Oklahoma City and Philadelphia. I was wondering if anyone ever tried to make a deal with an owner where they purchase the property for much below the asking price, pay ...
Mary Jay
please help to figure out the tax on sale
Hi guys,Will you please be so kind and help me out?I bought a rental property for 60K one year ago. I am selling it for 67K... So, technically I made a profit of 7K on it.I am in a 30% tax bracket..So does it mean I ...
Colin Carr
Saving money for taxes
I was watching the video Brandon Turner did for analyzing a deal recently and got to thinking. When you own a rental and are collecting money from it, I'm assuming the government sees that as income, and presumably wa...
JC Johnson
Rental lease tax strategy
My client has a paid off house in an affluent neighborhood in a nice suburb of Las Vegas. It is a relatively luxurious place and could rent for a significant amount. He is considering leasing to his son, who is in a...
Account Closed
Drones and Tax Write Off
Hello Everybody,
I am not sure if this is the correct forum.
However, does anybody know if a drone can be a tax write off? I purchased one so I don't have to climb a ladder and check the condition of the roof and ...
Collin Hays
Impact of Biden tax plan on STR investing?
With a Biden Presidency, taxes on on everyone making $400K a year are going up. There is speculation that the "only" 20 percent capital gains tax will go up, and in fact, for folks making $400K a year, capital gains ...
Chase Woodard
Tax Benefits from Rental Property
Hey Guys, So I’m a noob & trying to learn everyday. What I’ve been trying to understand is how Real Estate is so great for taxes. I’m planning on getting a rental property & was wondering what tax benefits do ...