Davison Horst
Month to Month versus Yearly Lease in Northern Florida
Just about finished renovating a 2nd house that I own. Seeking to begin renting January 1st. Have never been a landlord before. As such, is it best to do a Month to Month (1st months rent and one month security deposi...
Michael Plaks
Owing the IRS while under extension: interest and penalties
I see a lot of confusion on owing the IRS while under extension. Here's how the system works.
1. Extension that you filed on April 15 does give you time to file your taxes until Oct 15. But it does not extend the tim...
Chris T.
1031 on Assignments or Double Close?
Can you use a 1031 exchange when wholesaling properties?
I suppose you could if you bought it and sold it, but what about assigning contracts and double close?
Nathan Hood
Tax stratagy help on flipping
What is my best way to not get crushed with taxes?? I was reading about deferring them with the Like-kind or section 1031 exchange. But that seems like its just avoiding the problem not solving it. I also heard it c...
Jennifer Pletcher
Taxes question
Hi! This is mostly for the landlords who have properties in other states. We live in Massachusetts, but our rental property is in Pennsylvania. Do we have to file PA taxes as well?
Eric Lunsford
Tax implications for a private lender
I apologize if this has been answered before. I did a brief search and didn't find anything that answered my question. I'm wondering how private lenders get taxed on their earned interest as they loan money to RE inve...
Jacob Plocinski
Self Employment Taxes
I work full-time and have a side gig as a Realtor. I will probably only turn over about 6-10 transactions a year, equating to $14,000 to $24,000 gross additional income. I've read through the Self-Employment tax docum...
Zach Helms
Tax Advice: Building a home but need to sell due to job & health
Purchased a lot and have been building a home for my family for over a year. I relocated jobs to be closer to the new location (2.5hrs away from previous location; St. Louis to Camdenton, MO). Home is getting closer t...
Ivie Beller
Tax Sale Turned Rental
I have been living in my grandmothers house since 2013. In 2016 she passed away and I’ve been paying the taxes. The county sold her house and said it was tax lien sale. Apparently I was supposed to pay a higher rate b...
Bobby Todorov
“Self-employed/independant contractor“ wants to buy a property
I’m interested in buying a property, minimum of a 2-family to live in and rent. What would be the best way to obtain a mortgage if I am self-employed/independent contractor??