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...
Good Afternoon to all! Working through some questions as I finish my first individual Note purchases with my Individual 401(k) and was hoping the community would give me a hand in clarifying my thoughts some. Wanted...
I have a house that I lived in for a couple years, moved, and now it is my first rental property out-of-state. I have a property manager and other than that I'm pretty much hands off. I'm currently reading a book on r...
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 a property in my personal name that I plan to rent annually. I created an LLC to collect rent and manage any expenses related to the property. My accountant told me that I needed to move the property into the...
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...
Hi all,
I was interested to find out the basics for tax planning for a real estate
project to buy a lot and remove existing structures and have 3 units built
with 1 being kept by the owner.
How would I find infor...
I have a new LLC. My prospective accountant has suggested that I declare it as an S-Corp. Would the income automatically pass through in an S-corp, to the members of the LLC? Is this good or bad, pros and cons? What a...
I'm closing on my first property soon. It's a property I've been renting for my business for a few years, and there are three other rental units on the property in addition to mine.
Here is my LLC plan:
...
Hi,We own and manage two AirBnb's. We have previously tracked all expenses manually in google sheets and produced financials statements manually, also in google sheets. Transcribing transactions from bank statements...