Tony Capra
High taxes with 1099 income
Hi everyone, I am paying big taxes (my opinion) with my 1099 income. The CPA really has no good advice besides home office deductions and IRA contributions. There has to be a better way. To all of my smart friends,...
Ross Alcorn
Cost Segregation on 2 Separate Townhomes
I'm looking for some advice around cost segregation.I purchased a townhome in 2019 that has now been an LTR for two years. I purchased a separate townhome in 2021 that I am currently house hacking in and plan to turn ...
Lisa Johnson
Using an existing LLC
Hi everyone,I am starting my new career in flipping houses. I have my investor in place who will be purchasing the houses and covering the cost of the rehabs. We will then split the profits 50/50. Currently, I am a...
Aaron Gobert
Please review my creative financing structure for my first SFR
Hello BP! I am working on structuring my first deal here in the Houston market and could use some advice on the way I'm trying to structure the deal. It's a pretty interesting scenario especially for my first deal. Ba...
Account Closed
Title transfer to child and capital gains tax question
I purchased a condo 2 years ago for 50K. My daugter has been living there ever since (so 2 year residency requirement has been met)Now the property is worth about 70K. I would like to transfer the title to my daughter...
Jon Schwartz
Structure a sale to avoid taxes upon death of seller?
Hi all,I'm in an interesting situation. Long story short, a 94-year-old woman has expressed interest in selling me her $2M duplex (in a very nice area of Los Angeles, hence the $2M price tag). I haven't dug into her m...
Graham Lawlor
Informal partnership tax filing
My uncle and I bought a building together and after a minor renovation we're flipping it for a decent profitWe're 50/50 partners on the project (we contributed equal shares of the capital/expenses and we'll take an eq...
Matt Liu
Tax benefits of keeping management separate?
Why do many investors say that you should keep your property management business in a separate LLC for tax benefits? What exactly are the tax benefits?
I do so the logistical benefit - if you have many proper...
Juan Valdes
Whats the best approach?
This is my first post and not sure if this is posted in the correct spot but here goes none the less.I am currently living in a single family detached home in Florida where my parents own the property. The current ma...
Zac Schmelzer
Donating property for tax write off
I met a guy that cannot sell his distressed property. He mentioned he wanted to donate it to the fire dept. so the can do a controlled burn. Their response was that it was too close to neighbors. This property is caus...