Josh Dickson
How to reduce the maximum amount of income tax for a wealthy individual.
Hello all,I've been flirting with real estate for a long time but due to my low earning potential, thus far I have never felt comfortable taking on the risk. My brother, however; is a lawyer and earns around 700k a ye...
John Teachout
Fed tax disparity between 2021 and 2022 based on taxable income
I'm pulling my hair out over this years (2022) taxes. (turbotax)I've worked through all the Federal taxes and in 2021 I had an AGI of $111387. My taxable income was $75202 and fed taxes were $3504. For 2022 my AGI w...
Parth Patel
Tax Benefits of House Hacking
Hello guys,While I've listened to many bigger pockets podcasts, I'm new to the community and this is my first post. At 30 years old and after a long educational journey to become a doctor, I'm finally at the point in ...
Rich Hupper
Underwriting and phantom expenses
Hi Folks, I think a lot of us are aware how great depreciation is for people who own investment properties. However what about for new investors trying to reduce their taxable income but not reduce the income underwri...
Mehran K.
Is Investment Property Principal Paydown Considered taxable income?
Hi all,
At my family party yesterday I had a chat with my uncle who owns an apartment building and is very successful in other businesses. He told me that any principal paydown on an investment property is considered...
Account Closed
Bartering parking space for free rent - tax implications
I current rent an apartment in San Francisco for $2130 and have a garage parking space for which I pay $0, as stated in my lease. My landlord wants to turn the garage into ADUs. First he offered us (each tenant) $10...
Dilini Sundaram
RE needed to bring tax bill to zero
Is there a calculation to determine how much Real Estate you need to buy to bring your tax liability to zero? For simplicity's sake, we can just use straight line depreciation.
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...
James Boreno
Do I have to pay Capital Gains?
Hello BP Fam,One of my SFH caught on fire and I'm in the process of selling it to a contractor. Had a quick question.I purchased the property for $500K about 10 years agoI'm selling the property for $575K with the Fir...
Bill Krenz
Flipping Houses in a Self Dircted IRA
I’m looking to flip some house with my self directed Ira. I will loan the money from a private lender through my self directed account. Seeing what the proper way to set it as for ubit tax if that applies and how peop...