Michael Gieseke
Bank recommendations for HELOCs
I've had challenges with Chase and Wells Fargo for tapping into our home equity...predominantly because I didn't apply for funds prior to my transition from corporate consulting to self-employment. Does anyone have r...
Luis Crespo
IRS audit schedule E
I was sent an invitation to the IRS to review my 2015 and 16 federal taxes. I read that you are allowed to record the examination as long as you provide a 10 notice in writing. As o did such, the examiner called me an...
Brad Washburn
Deductible Items On Personal Refinance
Appears recent federal tax code changed the deductible items I can take on the refinance of my personal residence, i.e., looks like points are no longer fully deductible. Correct? New rules? Other previously deductibl...
John Fairchild
Kansas City earnings tax?
If I have a LLC and use a property management company for my rentals am I subject to the 1% earnings tax? Or is that considered a “hands off” activity and not taxable? Thanks!
Matthew Tenney
Solar on 21-Unit Multi Family
Recently purchased a 20-unit apartment building. All units are individually metered, plus a common area meter paid by the owner. It is in a small rural town (qualifies as a rural community under USDA) definitions in W...
Jennifer Bott
Form 3115 for Missed Depreciation - 180 Day Rule
Hello.I am filing Form 3115 to start depreciating (and to catch up on missed depreciation) a rental property that I have had in service since 2010. I assumed 2015 will be the year of change, since I am figuring this a...
Peter Kuck
HELOC on investment property
Looking for lenders who you've seen are willing to issue a HELOC (or loan) in 2nd position on an investment property. Most I've seen require 1st lien position on investment properties. Any advice or leads appreciate...
David Hedges
Preparing for possible tax changes.
I had been reading an article on marketwatch (https://www.marketwatch.com/st...), the part that stood out to me were the possible changes related to real estate that may be put into place. - eliminate the $25,000 exem...
Gloria Sheridan
Calculating % Replacement of W-2 Income with REI Earnings
My goal is to calculate how much of my W-2 income I've replaced so far with my real estate efforts. I've set up an Excel tracker to assess this and I'd like your validation of my approach. I'm already 5 buy-and-hold m...
Patrick Philip
Corporate protection for wholesaling
Is there any liability in wholesaling that would require corporate protection? I plan to operate under my own name because federal tax rates are lower.Someone once suggested not only to form an LLC, but to make someon...