My wife and I are in our early 50s, self-employed and seeking a mortgage lender who understands our non-traditional financial situation. We own several NNN properties and residential rental (STR & LTR) properties...
Hello BP Family! When you rent your property how do you handle the rental income?Do you open a seperate bank account for that and also how do you handle the security deposit?Can someone please advise.Thanks
My accountant has taken the position that health insurance premiums for full-time, self-employed real estate investors are not deductible on Schedule E since real estate is not technically considered a business ...
I have been doing my taxes for my rentals thru an LLC for almost 10 years using Quickbooks 2008. I usually just send the necessary forms to the accountant to do my taxes. I have had some issues of late with the Accou...
Hi,I have several children related tax question. After consulting with my CPA, I am now confused. Here is my situation.My husband and I set up a rental LLC several years ago. The same CPA told us since only my husband...
I am potentially interested in converting an existing Roth 401K to a self-directed account that allows for real estate investing. What is the cost/ benefit in your experience with making this sort of move? Currently t...
I just finished last year's taxes and have a large passive loss (after depreciation) on my rentals. But being a passive investor with large W2 income, I cannot benefit from the tax loss (at least thats what my account...
Imagining the beginning of a R/E investors career, what does it look like to pay yourself as an investor? To add more context, let say you're a hustler and within the first year completed 2 flips, gaining $40k profit ...
If I own a property under a LLC and pay myself 10% of the monthly rent, which would add up to more than $600 per year, do I have to send myself a 1099 for being the property manager even though I am the sole owner of ...
Suppose a Checkbook SDIRA holder invests in a Syndicated LLC, which then purchases a piece of commercial property (i.e. Apartment Complex) using leverage that cash flows for 2-3 years before being sold due to apprecia...