Daniel Schiff
Taxes due for flip with married couple both with W-2 earnings
My spouse and I have a real estate pass thru LLC we are 50:50 partners / owners of. We are in the middle of a flip which will sell in 2024 and have a second one lined up. Estimate to make 80-100k from both deals. Fo...
Kiana Rose
What is the best move to be eligible for financing?
I recently left my travel industry of one year and am currently a nanny making more money (roughly $800-$1000) a week however this is cash so it is non-taxable income. I also work part time as a server for extra money...
Nghi Le
Best Way to Gift Property to Family to Avoid Taxes
My brother-in-law has a primary residence (with no mortgage) that he may want to sell to us in the future (and we want to rent it out or do AirBnB). However, we want to minimize taxes for him and for us. Currently h...
Account Closed
401K Conversion to Roth
Last year I converted an old 401k of mine into a Self Directed 401k and used that to buy and refurbish a few properties and now the monthly income is very nice and I sleep at night knowing I'm not overly reliant on th...
SHANELLE SHERLIN
Using a SDIRA on a joint venture property with financing
Hi all,I am looking to set up a self-directed IRA with money transferred from a previous employer 401(k) to invest in a duplex in OK. The purchase price is $250K and I would be going in with a partner, likely by creat...
Bob E.
My Experience with UBIT in my SDIRA
People talk about UBIT like a kid talks about a big scary monster under the bed. Here is my experience as something to reference. Ready..., Fire..., Aim...I keept hearing about UBIT at seminars "Be careful, you co...
Michael Ablan
Using Cost Segregation to Claw Back Taxes w/ Corona Stimulus Bill
Hey guys,If I'm reading this correctly, within the weeds of this massive stimulus bill was a pretty interesting tax loophole....."Businesses with losses can carry back net operating losses (NOLs) to prior taxable year...
Tri Le
Question regarding income from rent
Hi,I'm new to the forums and looking into purchasing rental properties. I do plan on keeping my current job while I get started.I'm currently reading the Bigger Pockets tax strategy book and it is very eye-opening and...
Joseph Firmin
What did you love/hate using your self-directed IRA to invest?
I have not used my self-directed IRA (SDIRA) to invest in a multifamily syndication yet and would love to understand from other investors what you loved/hated about your experience... Thanks!
K S.
Where to reinvest 1031 exch funds?
Looking for ways to turn this into non taxable cash or just purchase something to avoid taxes.I'm on my second 1031 exch but later found out that I can't use the funds to improve on already purchased land so I'm a lit...